The joint venture between the two companies is one of the most important agreements in the development of storage projects in Spain to date.
The agreement includes an initial package of 210 MW in 10 projects that are well advanced in their development.
The partnership consolidates Benbros' strategy to develop projects contributing to the energy transition and bolsters Return's expansion in the Spanish market, where it already operates in the sector of large-scale solar grid-connected projects and solar industrial self-consumption through its subsidiary, Ekhi.
This energy storage joint venture follows Return's investment in German J&P Batterie Projekte GmbH.
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Return has acquired a majority stake in Hamburg-based J&P Batterie Projekte GmbH with a €50 mln investment and commitment. The acquisition is the next step in Return’s expansion in the German renewable energy market. With a pipeline of over 4 Gigawatt of storage projects, J&P is well positioned to accelerate energy storage throughout Europe.
Storage is the bottleneck of the energy transition. The challenge presents a new frontier for developers and investors and will contribute to the European Net Zero Emissions by 2050 target. Together, Return and J&P will develop, finance, own and operate a substantial project portfolio, leveraging the experience of Return which currently operates 70 MW (150 MWh) of operational assets and 450 MW (1,700 MWh) of Ready-to-Build projects. The new partnership will solidify Returns leading position in European energy storage.
This partnership expands Return's current position in Munich through its fully owned platform SemperPower. Currently, SemperPower has over 3 Gigawatts of advanced projects under development in Germany spanning multiple (types of) grid operators. The collaboration between the two companies will result in a faster realization of capacity in Germany over the coming years.
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We are thrilled to announce that Project Mufasa, a groundbreaking Dutch utility-scale Battery Energy Storage System (BESS), has reached a major milestone as its building permit has been granted irrevocably. As the Dutch energy transition efforts accelerate, the demand for flexibility is growing also. The challenges to our electricity grid have never been greater. Without adequate energy storage, the Netherlands risks increasing grid instability and security of supply risks. Mufasa, with its 364 MW and 1457 MWh BESS capacity, will soon stand ready to lead the charge, offering a scalable energy storage solution to our current and future energy challenges. Join us as we charge ahead towards a sustainable future!
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We are thrilled to announce already another significant achievement at SemperPower. Last month we announced that Castor is operational. On top of that, following the successful installation by energy solution specialist Alfen, we now have also taken over our third utility-scale energy storage project, Pollux.
The operational phase of this project was made possible through the collaborative efforts of our suppliers, capacity off-takers, and financiers. We truly believe that only together we can accelerate the energy transition. To pursue this goal, energy storage systems need to be realized. Therefore, the team of SemperPower is developing its concrete pipeline of 1.4GW, including the realization of our first HV-connected BESS. Stay tuned as the launch of star Antares is in sight!
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Big news for the energy transition in Europe. Return raised EUR 100m growth equity to invest in the development of new renewable energy projects!
With our unique setup of a network of likeminded entrepreneurs and our very hands-on invest & build approach we support project developers with capital and our platform synergies. Thanks to this capital raise we will accelerate the expansion of our current portfolio companies, and support other European project developers by both investing and leveraging our development platform and technology synergies.
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We are extremely proud to announce that SemperPower has, after the successful installation by Rolls-Royce, taken over control of its second utility-scale energy storage project Castor.
This project could not have reached its operational phase without the cooperation of our suppliers, capacity off takers as well as financiers. We truly believe that only together we can accelerate the energy transition. To pursue this goal; energy storage systems need to be realized. Therefore, the team of SemperPower is developing its concrete pipeline of 1.4GW, including the realization of our first HV-connected BESS. Stay tuned as the launch of star Antares is in sight!
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