In Short : Amsterdam-based Return announces its second €100 million investment, aimed at catalyzing the energy transition in Europe. This substantial commitment underscores Return’s dedication to advancing sustainable initiatives and fostering positive environmental impacts within the region.
In Detail : Amsterdam-based Return, a renewable energy project development investor, has closed a €100M growth equity investment for expanding its solar and utility-scale storage pipeline and portfolio.
The initiative aims to advance various gigawatts of solar and energy storage capacity development in Europe, through existing portfolios and new investments.
Investor supporting Return
Hartenlust Group led the round with a minority share.
Renowned Dutch energy transition leaders, including Renard Investments, the family office of Stijn Vos (CEO of Enstall), and the founders of Vandebron, have also supported the initiative.
Xeno Grimmelt, founder and Partner at Hartenlust Group says, “We are exceptionally pleased with this investment in Return. Our past collaboration with the team of Return has been very positive, and we have great confidence in their capabilities.”
“This investment represents a strategic blend of project development, infrastructure, and energy transition opportunities, aligning perfectly with our vision for sustainable and impactful ventures. We look forward to fostering further success together and contributing to positive advancements in these vital sectors.”
The Hartenlust Group, founded by Grimmelt and Jelle Elzinga, is a self-funded investment company. With an aim to develop medium-sized companies, the firm leverages its capital, expertise, and network to achieve optimal performance.
Capital utilisation
Return emphasises its commitment to supporting renewable energy developers and advancing the global energy transition with this latest investment.
Return’s recent investments include utility-scale energy storage developer SemperPower and Lion Storage, with projects totaling 350 MW in Zeeland and a pipeline of over 500 MW across the Netherlands.
Expanding into Germany and Belgium, Return plans to extend its presence throughout Europe.
Return’s platform companies are actively developing a pipeline, including 5 GWs of energy storage projects across Europe and 2.5 GWs of solar projects in Spain, including collaborations with Ekhi.
Notably, a highlight among these projects is a 1.2 GW hybrid green hydrogen and solar park in Europe.