Dutch pension asset manager APG is investing €300m for a minority stake in European battery energy storage system (BESS) firm Return.
APG, the asset management arm of Dutch civil service pension fund ABP, has committed the capital to help the energy storage firm expand its battery platform across Europe.
With operations in the Netherlands, Germany, Belgium and Spain, Return has 70MW of operational storage capacity in the Netherlands. It has an additional 450MW under construction across the region, which includes the Mufasa and Antares sites.
Bart Saenen, senior investment director at APG, said: “APG’s investment aligns with its client’s strategy of supporting clean, connected infrastructure that delivers stable, long-term returns while advancing net-zero goals, in the interest of ABP and its participants.
“Grid-scale battery storage is key to reliably integrate renewables and to ease grid congestion. Return’s integrated platform, long-term vision on relations and de-risked pipeline make it a strong partner for building grid resilience across Europe.”
Willem-Jan Schutte, founder and CEO of Return, said: “Partnering with APG marks an important step toward a more connected and resilient European energy system.
“Together, we can turn today’s fragmented energy landscape into one that truly works for customers, communities and the climate.”
Sjoerd Bazen, managing director at Return, said: “The energy transition requires shared responsibility. With APG we align interests, improve performance and create opportunities that benefit markets and society.”
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