Maire SpA’s project development subsidiary, MET Development, has inked a Memorandum of Understanding with Macquarie Capital, part of the Sydney-based Macquarie Group, to set up a new platform aimed at developing, constructing, and operating energy transition projects in Italy and Europe, including green or low carbon fertilizer projects.
The two parties have agreed to work together to launch the platform, which is intended to act through a newly incorporated company controlled by Macquarie Capital with 80% of the shareholding, according to a joint press release from MET, Maire, and Macquarie.
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 CO2 capture solutions, including fertilizers.
Projects are likely to be based on a non-recourse capital structure, relying upon secured long-term supply contracts and offtake agreements, with Maire to act as technology provider and E&C contractor, leveraging Macquarie Capital’s expertise in developing, financing, and managing infrastructure and energy assets, the two companies said.