- Actarus Renewables and Eren Industries have joined forces to develop a greenfield biomethane & nitrate removal platform in Central Italy.
- Actarus Renewables and Eren Industries will continue the expansion of the platform by developing a significant number of additional plants, aiming to become one of the largest multi-revenue stream portfolios in Italy and in Europe and a significant support to the energy decarbonisation system.
Actarus Renewables and Eren Industries have joined forces to develop a greenfield biomethane & nitrate removal platform in Central Italy.
Retina provided the initial equity funding whilst the developer Actarus Renewables and Macquarie Capital worked in partnership to underwrite the equity raise, secure a c.€240 million financing package, and provide operational support for the development of the platform.
Retina initiated the construction of nine biomethane plants in September last year, featuring direct injection into the Italian gas grid, biogenic Co2 recapture units, and organic fertiliser facilities.
Actarus Renewables and Eren Industries will continue the expansion of the platform by developing a significant number of additional plants, aiming to become one of the largest multi-revenue stream portfolios in Italy and in Europe and a significant support to the energy decarbonisation system. By transforming livestock waste and the byproducts of agricultural processing, the plants will also reduce the emission of nitrates into the soil and the use of chemical fertilisers.
David Corchia, co-founder of Eren Group (which owns 100% of Eren Industries) said, “We are delighted to be investing in Retina and continue our expansion in the valorisation of organic waste and production of renewable natural gas sector.”
He noted, “Our new partnership will position itself as a leader in Italy thanks to the amazing development work made by Actarus. This is in line with our ambition to create another global green energy platform across continents and make it a pillar of Eren’s massive investment strategy.”
Franco Torra, director general of Retina Biomethane, said, “Achieving this significant milestone has been a joint effort by all Equity partners, Lenders, and Consultants involved, whom we would like to thank for their effort, dedication, and resilience through this three-year journey. We are delighted to partner with Eren. Their track record, technical and technology expertise, and investment capacity are impressive.”