Return secures €835m in battery-storage portfolio financing

Building batteries at scale also requires a way to finance more than one site at a time.

What happened

Return secured €835 million in portfolio financing, underwritten by Deutsche Bank and Rabobank, to support its German battery-storage expansion.

The framework initially covers 117 MW across three projects under construction, with additional eligible projects able to enter the financing structure as they progress. This is infrastructure financing, not a venture-equity round.

Why it matters

Using a shared framework could reduce the need to restart the financing process for every site. That could make it easier to repeat deployments as a battery-storage pipeline develops.

The bigger picture

The capital framework and the operating assets are different milestones. Construction, grid connection and commercial operation still have to follow. The announcement supports Return's deployment plans; it does not mean the full planned storage capacity is already available to the electricity system.