Maire Tecnimont, Macquarie tie-up for energy transition platform in Europe

Maire Tecnimont, Macquarie tie-up for energy transition platform in Europe

Italian engineering group Maire Tecnimont and Macquarie Capital have signed a memorandum of understanding to set up a platform to develop and operate energy transition projects across Europe.

Maire and Macquarie Capital, a unit of Australian investment bank Macquarie Group, said in a joint statement the platform would focus on a broad range of sectors from chemical recycling to hydrogen production.

Both companies have agreed to work together towards launching the platform, which is intended to act through a newly incorporated holding company controlled by Macquarie Capital (80%) and participated by Maire unit MET Development (20%). The new company would combine Marie’s ability to deliver complex projects in the energy transition, relying upon its technologies, engineering and project development capabilities, with Macquarie Capital’s specialist sectoral expertise.

Macquarie Group is a leading investor and advisor in the infrastructure and renewable energy sectors. With more than 100 GW of renewable energy projects, it has a strong track record of working with stakeholders in the public and private sectors to support and scale energy transition solutions. This new platform would significantly boost the implementation of Marie’s ten-year growth plan leveraging its integrated approach combining the offer of technologies through its Sustainable Technology Solutions arm, NextChem, together with its Integrated E&C Solutions world-class capabilities, in addition to its expertise in project development.

The platform is expected to focus on key sectors ranging from the chemical recycling of waste to produce sustainable fuels and hydrogen, to all green or low carbon hydrogen and captured CO2 solutions, including fertilisers. Projects are likely to be based on a non-recourse capital structure, relying upon secured long-term supply contracts and offtake agreements, with Marie to act as technology provider and E&C contractor, leveraging Macquarie Capital’s expertise in developing, financing and managing infrastructure and energy assets.