This strategic initiative, focused on advancing several GW of solar power and energy storage capacity in Europe, both through existing portfolio companies and new investments, will help accelerate the expansion of Ekhi's solar portfolio and boost its contribution to the energy transition in Spain and Europe.
The capital injection reinforces Return's commitment to supporting renewable energy developers by furthering its unique structure: a network of like-minded entrepreneurs dedicated to accelerating the global energy transition. Following Return's recent investment in SemperPower, a leading large-scale energy storage developer, the group has also invested in Lion Storage, a developer of a 350 MW energy storage project in Zeeland, and a portfolio of more than 500 MW in concrete projects in the Netherlands. Return, which is already active in Spain and the Netherlands, is entering the German and Belgian markets; the next step will be to extend its presence to the European market as a whole.
Hartenlust Group assumes the role of lead investor with a minority stake, reaffirming its confidence in Return following an initial €100 million investment in the Ekhi energy platform. The new €100 million of funding will focus primarily on energy storage projects.
As Xeno Grimmelt, Founder and Partner of Hartenlust Group, mentions:
"We are very pleased with this investment in Return. Our past collaboration with the Return team has been very positive, and we have great confidence in their capabilities. This investment represents a strategic mix of project development, infrastructure and energy transition opportunities, aligning perfectly with our vision of sustainable and impactful ventures. We look forward to fostering further successes together and contributing to positive developments in these vital sectors."
This strategic investment is central to Return's plans to expand its presence in Europe and play a central role in shaping the renewable energy landscape across the continent. Return's platform companies are developing a portfolio of 5 GW energy storage projects in Europe and 2.5 GW solar projects in Spain, such as those developed with Ekhi. One of the highlights of these projects is a 1.2 GW hybrid solar farm and green hydrogen production in Europe.
As Willem-Jan Schutte, CEO of Return:
"We are grateful for the trust and support provided by our investors. This second €100 million investment marks a significant milestone for Return, and we are excited about the opportunities this brings. We are fully committed to accelerating the energy transition by developing assets and supporting entrepreneurial teams across Europe. With the group of investors now involved in Return, we anticipate great achievements together."
