Gunvor Group and Quercus Real Assets Limited are partnering for the development of up to 3 GW of solar photovoltaic capacity in Italy.
According to the agreement, Quercus will leverage its experience in developing renewable projects from permitting to “ready to build” status, while Gunvor will provide funding, management, and optimisation of assets through power purchase agreements.
The solar sites will be strategically placed throughout Italy, allowing Gunvor the option to acquire the assets and enter into PPAs. Additionally, the deal is subject to regulatory approval and other customary closing conditions.
