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Sunday, 23 December 2018

EFG Hermes’ Vortex divests its 49% stake in 998 MW European wind power portfolio

EFG Hermes’ Vortex Energy divests its 49% stake in 998 MW European wind power portfolio: EFG Hermes’ Vortex Energy has sold its 49% stake in a pan-European operational wind power portfolio that includes 56 wind farms with a combined capacity of 998 MW, according to a statement (pdf). Vortex sold its stake to “institutional investors advised by J.P. Morgan Asset Management.” The statement did not specify a value for the transaction. The assets included in the sale — which are managed and co-owned by EDP Renewables — are spread across Spain, France, Portugal, and Belgium. “The sale of Vortex Energy’s wind assets demonstrates our ability to acquire, manage and exit renewable energy investments on a global scale … We remain highly committed to the clean energy market and are now embarking on a new chapter in Vortex’s growth story,” said Karim Moussa, head of private equity and asset management at EFG Hermes.

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