Gunvor Group and Quercus Real Assets Limited have announced a partnership to develop up to 3 GW of photovoltaic capacity in Italy. Quercus will manage the project development process from permitting to “ready to build” status, while Gunvor will utilize its financial and asset optimization expertise through Power Purchase Agreements (PPAs). This partnership represents Gunvor’s significant entry into the solar market, aligning with its commitment to the Energy Transition. The solar sites will be strategically located across Italy, allowing Gunvor to potentially acquire and engage in PPAs with these assets. Gunvor’s recent plans to acquire bp’s Spanish power plant complement this initiative. Regulatory approval for the partnership is currently pending, reflecting Italy’s advanced solar market and recent legislative changes integrating solar power with agriculture.
Quercus and Gunvor partners for PV projects
Gunvor enters solar market with Quercus, developing up to 3 GW capacity in Italy. (Image Credit: Gunvor Group)
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