Vortex Energy has entered into an agreement to divest a 49% stake in a 998MW wind portfolio to institutional investors advised by JP Morgan Asset Management.
The European renewable energy platform, which is managed by the private equity arm of EFG Hermes, will sell the share of assets managed and co-owned by EDPR, to institutional investors advised by JP Morgan Asset Management.
Assets included in the sale include 56 operational wind farms spread across Spain, France, Portugal and Belgium.
Karim Moussa, Head of Private Equity and Asset Management at EFG Hermes, said: “The sale of Vortex Energy’s wind assets demonstrates our ability to acquire, manage and exit renewable energy investments on a global scale.
“We launched Vortex Energy exactly four years ago and have grown to become a prominent renewable energy-focused investment manager in Europe and the UK with a solar and wind portfolio of 822MW and combined executed transactions in excess of €2.4 billion (£2.16bn).”