{"id":547087,"date":"2022-06-08T04:21:08","date_gmt":"2022-06-08T04:21:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/efgs-vortex-energy-invests-eur-222-mn-so-far-in-spanish-solar-firm\/"},"modified":"2022-06-08T04:21:08","modified_gmt":"2022-06-08T04:21:08","slug":"efgs-vortex-energy-invests-eur-222-mn-so-far-in-spanish-solar-firm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/efgs-vortex-energy-invests-eur-222-mn-so-far-in-spanish-solar-firm\/","title":{"rendered":"EFG\u2019s Vortex Energy invests EUR 222 mn so far in Spanish solar firm"},"content":{"rendered":"

<\/a> Vortex Energy has made more than a third of its planned EUR 625 mn investment <\/strong>in Ignis Energia: <\/strong>EFG Hermes\u2019 energy investment platform Vortex Energy has so far invested EUR 222 mn of equity capital into Ignis Energia, Vortex said in a press release (pdf)<\/a> yesterday. Vortex plans to eventually invest EUR 625 mn<\/a> in Ignis under an agreement signed with the Spanish solar developer in October, in return for what was reported by Reuters<\/a> to be a 49% equity stake. The company didn\u2019t disclose its current holdings in Ignis when Enterprise asked yesterday.<\/p>\n

There\u2019s more where that came from:<\/strong> Vortex plans to double its investment in Ignis by 2023, with a c. EUR 46 mn investment planned for 4Q 2022, and a c. EUR 176 mn injection in 1Q 2023. The remaining c. EUR 181 mn will come over the course of next year, Vortex Energy CEO Karim Moussa told Enterprise.<\/p>\n

Ignis is using the funds to expand its portfolio:<\/strong> Since partnering with Vortex, Ignis has secured permits to add more than 1 GW of capacity and will begin construction on around half of that in the next few months, most of which are solar projects in Spain, Moussa told Enterprise. One of the largest solar developers in Spain, the company has been involved in developing some 14 GW of solar and wind projects inside the country and c. 11 GW elsewhere around the world, primarily in Italy, the US and the UK, he said.<\/p>\n

What they said:<\/strong> \u201cWe are extremely delighted with the achievements of Ignis in such a short period of time and during these challenging market conditions,\u201d Moussa said. \u201cIgnis\u2019 management skills and quality of its portfolio continue to solidify its market position.\u201d<\/p>\n

About Vortex:<\/strong> The renewables-focused investment platform has invested some USD 1.6 bn in green energy across the UK, EU, and US. It last year reached its first USD 200 mn close on its fourth fund, Vortex Energy IV, and plans to reach a second close<\/a> worth about USD 550 mn on the fund within the next two years. We sat down with Moussa last year to talk all things Vortex<\/a>.<\/p>\n

ALSO FROM EFG-<\/strong> EFG Hermes\u2019 e-payments subsidiary PayTabs <\/strong>announced the launch <\/strong>of its new unified payments platform, PayTabs SwitchOn<\/strong>, in a press release<\/a> yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"

Vortex Energy has made more than a third of its planned EUR 625 mn investment in Ignis Energia: EFG Hermes\u2019 energy investment platform Vortex Energy has so far invested EUR 222 mn of equity capital into Ignis Energia, Vortex said in a press release (pdf) yesterday. Vortex plans to eventually invest EUR 625 mn in […]<\/p>\n","protected":false},"author":1,"featured_media":547088,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[84,72,125,151,1589],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-efg-hermes","tag-enterpriseam","tag-investment-watch","tag-renewables","tag-vortex-energy","wpautop","entry"],"acf":{"mongo_id":"e38d5e96-ec7c-46c6-84d4-cf04f8d47e24","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/189.jpg","photo_position":"above","related_issue":[547081],"teaser":"","voice_url":""},"yoast_head":"\nEFG\u2019s Vortex Energy invests EUR 222 mn so far in Spanish solar firm - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/efgs-vortex-energy-invests-eur-222-mn-so-far-in-spanish-solar-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG\u2019s Vortex Energy invests EUR 222 mn so far in Spanish solar firm\" \/>\n<meta property=\"og:description\" content=\"Vortex Energy has made more than a third of its planned EUR 625 mn investment in Ignis Energia: EFG Hermes\u2019 energy investment platform Vortex Energy has so far invested EUR 222 mn of equity capital into Ignis Energia, Vortex said in a press release (pdf) yesterday. 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Spanish\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/59.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588173,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/07\/efg-holding-backed-ignis-energia-prepares-to-sell-5-solar-plants\/","url_meta":{"origin":547087,"position":1},"title":"EFG Holding-backed Ignis Energia prepares to sell 5 solar plants","author":"enterpriseam admin","date":"7 June 2023","format":false,"excerpt":"EFG Holding\u2019s Vortex Energy holds a minority stake in the Spanish renewables developer","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/325.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555902,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/03\/efg-hermes-eyes-minority-stake-in-spanish-ignis-energia\/","url_meta":{"origin":547087,"position":2},"title":"EFG Hermes eyes minority stake in Spanish Ignis Energia","author":"enterpriseam admin","date":"3 October 2021","format":false,"excerpt":"EFG Hermes is in talks to acquire a significant minority stake in Spanish renewable energy company Ignis Energia in a transaction that would value it at around EUR 1 bn, Spanish newspaper Expansionreported Thursday. EFG is reportedly looking to purchase 45-49% of the company through a capital increase, an agreement\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/24.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":609282,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/02\/efg-hermes-backed-education-firm-could-enter-saudi-market-plus-vortex-has-so-far-invested-eur-300-mn-in-ignis\/","url_meta":{"origin":547087,"position":3},"title":"EFG Hermes-backed education firm could enter Saudi market. PLUS: Vortex has so far invested EUR 300 mn in Ignis","author":"enterpriseam admin","date":"2 November 2023","format":false,"excerpt":"EEP could roll out its own brands in KSA or acquire and invest in new brands","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/72.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":611921,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/14\/efg-hermes-eyes-usd-300-mn-second-close-for-vortex-renewable-energy-fund\/","url_meta":{"origin":547087,"position":4},"title":"EFG Hermes eyes USD 300 mn second close for Vortex renewable energy fund","author":"enterpriseam admin","date":"14 December 2023","format":false,"excerpt":"The close could wrap up before the year\u2019s end, bringing the fund\u2019s total size to over USD 500 mn","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":551284,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/07\/this-evening-efg-hermes-vortex-energy-investments-in-spains-ignis-energia-total-eur-222-mn-public-placement-for-ghazl-el-mahalla-fcs-ipo-to-begin-on-sunday\/","url_meta":{"origin":547087,"position":5},"title":"THIS EVENING: EFG Hermes\u2019 Vortex Energy investments in Spain\u2019s Ignis Energia total EUR 222 mn + Public placement for Ghazl El Mahalla FC\u2019s IPO to begin on Sunday","author":"enterpriseam admin","date":"7 June 2022","format":false,"excerpt":"It\u2019s a semi-news dump day type of hump day, ladies and gentlemen, with just enough going on to propel us through the midweek slump.THE BIG STORY TODAY EFG Hermes\u2019 energy investment platform Vortex Energy has invested EUR 222 mn to date into Spanish solar developer Ignis Energia, fulfilling the terms\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=547087"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547087\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547088"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547087"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547087"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}