Vortex to acquire major wind energy portfolio

Vortex, a renewable energy platform managed by EFG Hermes’s private equity arm, has agreed with a subsidiary of EDP Renováveis SA to acquire a 49% stake in an operational 664 MW portfolio of European wind assets.

The transaction is valued at EUR 550 million and includes a portfolio of 23 wind farms in four European Union jurisdictions, including Spain (348 MW), Portugal (191 MW), Belgium (71 MW) and France (54 MW).

EFG Hermes head of private equity Karim Moussa said: “In just 18 months since its first transaction acquiring 49% of EDPR France, Vortex has gained considerable momentum and market recognition in the European renewable energy space. Our track record and knowledge of the market was a decisive edge in a very competitive M&A process that saw Vortex bidding head-to-head with major global investors.”