Macquarie increases tech bet with Saudi Aramco hire

Peter Durante’s newly-created role will see MIRA ‘look beyond convention’ in applying technology to existing and future assets.

Macquarie Infrastructure and Real Assets has created a new managing director role in technology and innovation, hiring Peter Durante from Saudi Aramco.

Durante, who has been working in MIRA’s London office since the start of this month, has spent the past five-and-a-half years in Saudi Arabia with energy giant Aramco developing its renewable energy buildout strategy. Since 2014, he has led the group’s new and emerging technologies division as part of its renewables drive.

Durante previously spent almost eight years at Shell, building experience in strategy consulting, procurement, risk and supply management, and commodities trading.

MIRA will be looking to leverage this experience to identify and apply technologies to both existing and future assets to enhance performance, it stated. His work will be across the MIRA portfolio but the group declined to comment on specific technologies that might be deployed.

“We continue to look beyond convention in the way that technology can be applied to enhance the performance of assets in our portfolio, and indeed consider the potential disruption of new technologies to our long-term investments,” said Leigh Harrison, head of MIRA EMEA.

The move follows Macquarie Capital’s hire this week of Greg Callman in San Francisco as senior managing director and global head of energy technology to lead the firm’s efforts in energy storage and distributed solutions. The Macquarie Capital division also launched in February Macquarie Capital Venture Studio, a platform to promote innovation in the infrastructure technology space focusing on energy solutions.