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.
Return emphasises its commitment to supporting renewable energy developers and advancing the global energy transition with this latest investment.
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.
Willem-Jan Schutte, CEO of Return says, “We are fully committed to accelerating the energy transition by developing assets and supporting entrepreneurial teams throughout Europe. With the group of investors now involved in Return we anticipate great achievements together.”
Building an energy transition invest & build platform
Founded in 2021 by the minds behind Sunrock and Stecc Capital, Return is a hands-on investment platform for energy infrastructure projects.
The firm actively supports renewable energy, storage, distribution, and carbon removal projects, focusing on scaling up early-stage development teams through platform synergies and capital access.
“We invest and we build. Combining capital with the innovation power and pace of a mission driven scale-up to build companies and projects,” says Return.