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Gunvor and Quercus announce landmark solar development partnership in Italy

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6 months ago

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The partnership aims to develop up to 3GW of solar capacity and marks Gunvor’s expansion into the solar sector alongside renewable energy specialist Quercus

LONDON, July 1, 2024 /PRNewswire/ — Gunvor Group (“Gunvor”), a leading global energy commodities trading company, together with Quercus Real Assets Limited (“Quercus”), the London-based renewable specialist focused on international investments within the Energy Transition, proudly announce a landmark solar development partnership that targets the development of up to 3 gigawatts (GW) of solar photovoltaic (PV) capacity in Italy.

Under the terms of the deal, Quercus will draw on its established track record of developing renewable projects—from permitting to “ready to build” status—and combine that with Gunvor’s ability to fund, manage, and optimize assets through power purchasing agreements (“PPAs”). The solar sites will be strategically located across all regions in Italy, granting Gunvor the option to acquire and enter into PPAs with the assets.

“Gunvor’s first material investment in the solar space fully aligns with Nyera’s commitment to the Energy Transition and our ambition to build up a renewable power portfolio.” said Fredrik Törnqvist, Managing Director of Nyera, Gunvor’s renewables investment vehicle.

The Italian solar market is among the most advanced in Europe, thanks to a well-developed regulatory framework and recent legislative changes that support the integration of solar infrastructure with agriculture.

 “Given the essential role of agriculture in the Italian economy, it is crucial to align solar investments with agricultural preservation to ensure long-term sustainability,” said Diego Biasi, co-founder and CEO of Quercus. “At Quercus, we have consistently invested in renewables to enhance our surroundings. I am pleased to collaborate with a prominent partner like Gunvor, sharing our values and advancing our successful investment initiatives.”

Aldo Della Valle, Gunvor’s Head of Power & Natural Gas Trading, added: “This landmark solar venture will further complement Gunvor’s recently announced intention to acquire bp’s Spanish powerplant 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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Meet With Culture: Rediscovering the Hutong Culture in Beijing

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15 minutes ago

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December 22, 2024

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BEIJING, Dec. 22, 2024 /PRNewswire/ — Beijing, as a capital of five dynasties in history, preserves rich historical heritage, such as traditional buildings and hutongs (alleys). Yangmeizhu Xiejie, an alley in Xicheng District of Beijing, is regarded as one of Beijing’s ten most beautiful alleys for its historical charm, traditional culture and the shops with creative designs and products.

 

Since 2013, the government Xicheng District has been working on renovation of Yangmeizhu Xiejie, including the residences and shops along the alley, which is supported by the residents. After renovation, the shops maintain their original building styles while expanding new functions and space with creative designs, attracting investments from both home and abroad.

If take a walk in Yangmeizhu Xiejie, one can find a vibrant alley that blends traditional architecture with modern lifestyle and cultural creativity. Yangmeizhu Xiejie presents a scene of everyday life in Beijing’s alleys: clothes hung out in resident courtyard for drying, the hustle and bustle of vegetable markets, and smoke from kitchen chimneys.

The alley also gathers many cultural spaces that integrate traditional culture with contemporary design. Shopkeepers from both home and abroad have started their creative businesses in the alley, reflecting Beijing’s openness and inclusiveness. Each corner of the alley offers a glimpse into the local lifestyle and culture, making it an ideal destination for those who want to experience the authentic hutong culture.

When night falls, the alley restores to quiet again as tourists leave. Local residents continue to enjoy the leisure in the alley. The harmony is well maintained between the residents and neighboring business in the alley, promoting the sustainable development of the traditional Beijing lifestyle and moderate commercial activities.

Yangmeizhu Xiejie represents a successful case of Beijing’s effort to preserve its cultural heritage and promote innovation, serving as a living museum of the urban life in old Beijing.

Click the link below to follow Noel and explore the hutong culture of Beijing.
https://youtu.be/FzrJfKluBoE

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A Bus Tour Across China | The First Inner Mongolia Shaomai Festival

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1 hour ago

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December 22, 2024

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Inner Mongolia – Where Nature’s Purity Meets Culinary Excellence

BEIJING, Dec. 22, 2024 /PRNewswire/ — As the Dongzhi (Winter Solstice) approaches, a time as significant as the New Year itself, the spirit of reunion warms the heart of Hohhot (the Green City), inviting all to a feast of flavors and culture! Join us for a grand celebration where culinary artistry meets cultural heritage! On December 21, 2024, at 10:15 AM (Beijing Time), China Media Group, in collaboration with the Inner Mongolia Autonomous Region Agriculture and Animal Husbandry Hall, proudly presents an integrated media live broadcast: “A Bus Tour Across China | Where Each Shaomai Tells a City’s Story.” Amid rising steam and anticipation, the Inaugural Inner Mongolia Shaomai Festival unfolds spectacularly extending a warm invitation to all! Each carefully crafted shaomai embodies the essence of “Inner Mongolia – Where Nature’s Purity Meets Culinary Excellence.”

Live broadcast link: https://www.yspapp.cn/2XAN

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SOURCE China Media Group Mobile

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MagFone Christmas & New Year Sale: Unbeatable Discounts for the Holiday Season

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8 hours ago

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December 22, 2024

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The festive season is upon us, and MagFone is here to make your holidays even brighter with an exclusive Christmas & New Year sale! From incredible discounts on best-selling products to special deals on new products, MagFone is the ultimate destination for holiday shopping. From December 18, 2024 to January 6, 2025, this sale offers up to 80% off discount for everyone. Let’s dive into the details of the most awaited sale of the year.

HONGKONG, Dec. 21, 2024 /PRNewswire-PRWeb/ — What Can You Get from MagFone Christmas & New Year Sale?

New arrival – Location Changer is only $1.99 to everyone in this MagFone Christmas & New Year Grand sales. Moreover, everyone can enjoy up to 80% OFF.

1. Best-Selling Products at Up to 70% OFF

Resolving various iOS system issues or unlocking locked Apple devices like iPhone and iPad by yourself at home with MagFone’s flagship products, now available at unbeatable prices. Best-selling products such as iPhone Unlocker, Activation Unlocker, and iOS System Recovery are up for grabs with discounts of up to 70% off. Don’t miss out on this chance to get MagFone’s best-selling products at jaw-dropping prices.

MagFone iPhone Unlocker at $20.95/month and $41.95/lifetime.MagFone Activation Unlocker at $20.95/month and $41.95/lifetime.MagFone iOS System Recovery at $17.95/month and $48.95/lifetime.

2. New Arrival to Get with Only $1.99

Whether you want to change your location on your mobile device or simulate GPS movement in various games, MagFone’s new product – Location Changer – is perfect for you. Designed for both iOS and Android users, this tool comes equipped with advanced location changing features, flexible movement speed, and customizable route. With only $1.99, it is a must-have for this Christmas sale if you have the demand to change your device location.

3. 4-in-1 Bundle to Maximize Your Savings

MagFone values all loyal customers and offers exclusive pers during the Christmas & New Year sale. A super 4-in-in bundle is at reduced prices, which enables you to get all products from MagFone with an 80% off discount. This bundle includes all the tools you need, whether you’re looking to resolve various system problems and unlocking issues or change iPhone and Android device’s location. Don’t miss this chance to get all MagFone products at unbeatable prices.

MagFone Christmas & New Year Sale is a limited-time event, running from December 18, 2024 to January 6, 2025. With discount this good, products are expected to get at the lowest price this year. Don’t wait until the last minute—start shopping now to get MagFone products at the best deals.

About MagFone:

MagFone is redefining tech innovation with state-of-the-art technology and intuitive design. Whether their flagship products like iPhone Unlocker or newly-released tools like Location Changer, MagFone products are built for performance and flexibility.

YouTube: https://www.youtube.com/@magfone

Facebook: https://www.facebook.com/magfone/

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Media Contact

Olivia Wood, MagFone, 86 19186985874, support@magfone.com, https://www.magfone.com/

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