Actarus Renewables and Eren Industries will develop one of Italy’s Largest Biomethane Platforms

MILAN, 17 March 2025 – Actarus Renewables and Eren Industries have joined forces to develop a greenfield Biomethane & Nitrate removal platform in Central Italy, Retina Biomethane (Retina).

Retina SCA provided the initial equity funding, while the developer Actarus Renewables and Macquarie Capital worked in partnership to underwrite the equity raise, secure a €240 million financing package, and provide operational support for the development of the platform.

In September 2024, Retina initiated the construction of 9 biomethane plants, 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 Europe, and a key contributor to energy decarbonization. By transforming livestock waste and by-products of agricultural processing, the plants will also reduce nitrate emissions into the soil and decrease the use of chemical fertilizers.

Leadership Statements

David Corchia, Co-founder of Eren Group (which owns 100% of Eren Industries), said:

“We are delighted to be investing in Retina and continuing our expansion in the valorisation of organic waste and the production of renewable natural gas. Our new partnership will position itself as a leader in Italy thanks to the outstanding development work led 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, stated:

“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 throughout this three-year journey. We are delighted to partner with Eren. Their track record, their technical & technological expertise, and their investment capacity are impressive.”

The financing package has been provided by a consortium of banks, including:

• BNP Paribas – Italian Branch
• BPER S.p.A.
• ING Bank N.V. - Milan Branch
• Intesa Sanpaolo S.p.A. (IMI CIB Division)
• Société Générale - Milan Branch
• UniCredit S.p.A. (acting as facility agent, SACE agent, and account bank)

With the support of SACE, which issued the public guarantee Garanzia Archimede to secure the lenders’ rights and support the financed project.

About EREN Group

EREN Group was founded in 2011 by Pâris Mouratoglou and David Corchia, after the sale of EDF Energies Nouvelles, a renewable energy IPP founded by Pâris Mouratoglou in the 90s and led by David Corchia from 2004.

EREN was created to deploy a wide range of solutions for efficient natural resource use through two branches:

• EREN Renewable Energy, which became Total EREN in 2017 and was sold to TotalEnergies in 2023.
• EREN Industries, active across multiple energy transition sectors, including thermal management, low-carbon energy production (hydrogen, biogas, biomethane), energy storage, waste treatment for energy recovery, CO₂ capture, and more.

About Actarus Renewables

Actarus Renewables is the Energy Platform of Actarus Investments Group, an independent investment firm specializing in Real Estate, Infrastructure, and Environmental Services.

Founded by experts in sustainable investments, Actarus Renewables combines traditional investing with environmental insights to enhance long-term returns. It focuses on the early development phase of small to medium-sized projects by providing:

• Capital investment
• Strategic management support
• Financial expertise for planning, authorization, and construction

Through Actarus Renewables’ stewardship, projects are carefully reshaped, de-risked, and structured to meet institutional investors’ criteria over time.

Bridging the gap between early-stage plans and investable projects is the core of Actarus Renewables' value creation strategy.

Press Contact

Brunswick Group
Sarah Levy-Quentin
📧 EREN@brunswickgroup.com
📞 +33 7 88 72 28 94

Key Project Partners

EPC Contractor

• Techbau S.p.A.

Financial Advisor

• L&B Partners S.p.A.

Insurance Advisors

• Asigest – Insurance Broker
• Howden – Insurance Advisor for the Lenders

Legal Advisors

• Advant NCTM : Legal counsel for Actarus Renewables
• Ashurst : Legal counsel for the Lenders
• Bonelli Erede : Sponsors’ legal counsel on financing, EPC contracting & PNRR Incentive scheme
• Brouxel Rabia : Legal counsel for Retina SCA
• FGA Lex : Retina in-house legal counsel
• Green Horse : Legal counsel to Macquarie Capital
• Grimaldi Alliance : Legal due diligence & permitting
• Legance : Legal counsel on Tax incentives & non PNRR grants
• Ughi e Nunziante : Legal counsel for Eren Industries

Management Consultants

• McKinsey & Company : Strategic management
• Artelia : Tender support, project & construction management
• CIB Consorzio Italiano Biogas : GSE support, compliance & regulatory
• KF Partnership : Project & Construction management

Tax & Accounting Advisors

• KPMG
• PMC Treasury
• Studio Rocchi e Associati
• Studio Tributario e Societario Deloitte
• Tinelli & Associati
• &Partners

Technical Advisors

• Afry : EPC contracting advisor & Technical Advisor to Eren Industries
• Fichtner : Technical Advisor for the Lenders
• Geosol : Environmental and Geotech
• I-Fly : Ground safety
• KB Development Srl : Easement rights
• Rina : Market Advisor for the Lenders