ENGIE’s battery storage virtual flexibility purchase agreement (FPA) with Return, in early 2026, marks the largest such transaction to date in a fast-growing segment of Europe’s electricity infrastructure. At its core, the deal creates a scalable risk management scheme for battery flexibility, with ENGIE acting as a committed offtaker at portfolio level, allowing Return to underpin and finance 100 megawatts (MW)/400 megawatt hours (MWh) of projects that are part of a larger portfolio of utility