Grid Flexibility Financing
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Amsterdam-based energy storage startup Return secured €835 million in portfolio financing underwritten by Deutsche Bank and Rabobank to support its expansion in Germany, where it aims to install at least 1 GW of large-scale battery storage capacity annually from 2027.
The initial framework covers three German battery storage projects with a combined capacity of 117 MW. Return plans to invest between €750 million and €1.2 billion annually in German projects from 2027, depending on market conditions. ENGIE expanded its partnership with Return to 400 MW of contracted battery flexibility in Germany, and Centrica Energy signed a separate agreement covering 100 MW.
The deal shows how financing that connects physical battery infrastructure with virtual flexibility services can help scale grid-supporting storage as Germany adds more wind and solar power.
