Dutch energy storage provider Return raises €300 million to expand battery storage portfolio

Netherlands-based energy storage firm Return Storage has announced a deal with APG, which, acting on behalf of Dutch pension fund ABP, has agreed to make a €300 million invesment. The investment gives APG a minority stake in Return and is expected to close by the end of 2025, subject to regulatory approval, the companies said.

Return, which rebranded earlier in 2025 from SemperPower, said it had already invested a similar amount in its core operations prior to the deal.

The funds will support the company’s expansion of large-scale battery systems throughout Europe.

“Partnering with APG marks an important step toward a more connected and resilient European energy system,” said Willem-Jan Schutte, founder and CEO of Return. “Together, we can turn today’s fragmented energy landscape into one that truly works for customers, communities and the climate.”

“The energy transition requires shared responsibility,” added Sjoerd Bazen, managing director at Return. “With APG we align interests, improve performance and create opportunities that benefit markets and society.”

Return already operates storage in the Netherlands and in terms of capacity, is building another 1657 MWh in the country, including the 1,457 MWh Mufasa and 200 MWh Antares sites. The company said it has a goal of reaching a total of 5 GW of power output by 2030 and says it has secured more than €2 billion in long-term customer contracts.

Just in September, Return and the Berlin-based Bessmart partnered to acquire four RtB projects to connect 670 MWh of German BESS by 2027.

The company is also constructing a 100 MW/200 MWh battery system in Waddinxveen, the Netherlands, scheduled to connect directly to TenneT in 2026.

“Grid-scale battery storage is key to reliably integrate renewables and ease grid congestion,” said Bart Saenen, Senior Investment Director at APG. “Return’s integrated platform and pipeline make it a strong partner for building grid resilience across Europe.”