Gunvor and Quercus announce landmark solar development partnership in Italy

Quercus Real Assets Gunvor Group Switzerland Italy United Kingdom Luxembourg Spain

and is another step in our strategy of building up a portfolio in Europe composed of conventional flexibility and renewable power positions to enhance our power and gas trading activities."

The deal remains subject to regulatory approval and other customary closing conditions.

Note to Editors

About Quercus Real Assets
Quercus Real Assets Limited is a renewable energy specialist focused on energy transition investments, with offices in London and Dubai.

Diego Biasi and Simone Borla founded Quercus by establishing a Luxembourg-based fund which successfully completed over €1bn in gross investments from inception in five different successful strategies. In January 2020, Diego Biasi started to steer Quercus's business in response to the evolution of the energy sector into a more diversified strategic investment approach. Quercus has successfully completed over 40 deals up to date.

Since 2010 the strategy of the company has been founded on the belief that the creation of long-term environmental and social capital underpins and strengthens investors' and shareholders' returns. Quercus is committed to developing business opportunities and supporting responsible investments for sustainable income and capital returns while contributing to a carbon-neutral future.

For further information, please visit www.quercusrealassets.com

About Gunvor Group
Gunvor is one of the world's largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. Gunvor has strategic investments in industrial infrastructure — refineries, pipelines, storage and terminals — that complement our core trading activity and generate sustainable value across the global supply chain for our customers. The company, which in 2023 generated US $127 billion in revenue on 177 million MT of volumes. For more information, visit GunvorGroup.com.

About Nyera
Nyera, a wholly-owned subsidiary of Gunvor Group, is dedicated to identifying Energy Transition investments, including new sustainable commodities and businesses. Nyera's trading and investment activities are performed on a commercial basis, and the company is deliberate in entering areas of opportunity that will ensure a sustainable long-term model. Current areas of investment include solar, biofuel, biogas, green hydrogen, renewable natural gas, and zero-emission maritime transportation, among other renewables-focused projects. For more information, visit Nyera.com.

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