Cairo – Mubasher: EFG Hermes-managed renewable energy platform Vortex Energy has closed deal to sell its 49% stake in a 998 megawatts wind portfolio to a group of institutional investors advised by JP Morgan Asset Management..
The portfolio includes 56 projects co-owned and managed by EDP Renewables located in 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,” EFG Hermes’ head of private equity and asset management Karim Moussa commented.
Vortex Energy was launched four years ago and has become a “prominent” renewable energy-focused investment manager in Europe, with a solar and wind portfolio of 882 MW and combined executed transactions whose value exceed EUR 2.4 billion ($2.73 billion), Moussa added.
“We are delighted to acquire the operational wind interests of Vortex Energy, which delivers sustainable, risk-adjusted returns to our investors, which include pension schemes representing over 25 million families,” JP Morgan Asset Management infrastructure investments group managing director Matthew LeBlanc said.
The recent investment increases our renewables energy production capacity to over 3.8 gegawatts, LeBlanc noted.
