A new implementation of stochastic many-body perturbation theory for periodic 2D systems is presented. The method is used to compute quasiparticle excitations in twisted bilayer phosphorene. Excitation energies are studied using stochastic G 0 W 0 and partially self-consistent∆GW 0 approaches. The approach is inexpensive; it is used to study twisted systems with unit cells containing > 2, 700 atoms (> 13, 500 valence electrons), which corresponds to a minimum twisting angle of ≈ 3.1 • . Twisted bilayers exhibit band splitting, increased localization and formation of localized Moiré impurity states, as documented by band-structure unfolding. Structural changes in twisted structures lift band degeneracies. Energies of the impurity states vary with the twisting angle due to an interplay between non-local exchange and polarization effects. The mechanisms of quasiparticle energy (de)stabilization due to twisting are likely applicable to a wide range of low-dimensional Moiré superstructures.