Baker McKenzie Advises Gunvor on its Landmark Solar Development Partnership with Quercus

Leading global law firm, Baker McKenzie has advised Gunvor Group (Gunvor), a leading global energy commodities trading company, on its landmark solar development partnership with the London-based renewable specialist, Quercus Real Assets Limited (Quercus), which targets the development of up to 3 gigawatts (GW) of solar photovoltaic (PV) capacity in Italy.

The deal combines Quercus’ established track record of developing renewable projects from permitting to “ready to build” status with Gunvor’s proven ability to fund, manage, and optimise assets. The sites will be strategically located across all regions in Italy, and includes the option for Gunvor to acquire and enter into long term PPAs for the assets.

Led by London Energy & Infrastructure Partner, Richard Blunt, with support from London Corporate Senior Associate, Andrew Burleigh, the cross-practice, cross-border Baker McKenzie team includes:

• Corporate: Paolo Ghiglione (Partner, Milan), Nicolas Clement (Counsel, Luxembourg), Silvina Rueda, Alex Tam (Associates, London)
• Banking & Finance: Luka Lightfoot (Partner, London), Laurent Fessmann (Partner, Luxembourg)
• FDI regulatory: Raffaele Giarda (Partner, Rome),
• Competition: Anthony Gamble (Partner, London)
• Real Estate Regulatory: Amalia Scimè (Associate, Milan)

Commenting on the transaction, Richard Blunt, chair of Baker McKenzie’s global energy and infrastructure team, said: “We are delighted to have supported Gunvor on this transaction, which is designed to underpin their broader European clean energy and energy transition strategies. This deal further highlights our track record of delivering innovative energy transactions for our clients.”