{"id":555971,"date":"2021-10-05T04:00:37","date_gmt":"2021-10-05T04:00:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/"},"modified":"2021-10-05T04:00:37","modified_gmt":"2021-10-05T04:00:37","slug":"efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/","title":{"rendered":"EFG Hermes\u2019 Vortex invests EUR 625 mn in Spanish solar developer"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> \u200b\u200b<strong>EFG Hermes\u2019 energy investment platform Vortex Energy will invest EUR 625 mn in<\/strong> <strong>Spanish solar developer Ignis Energia<\/strong> in return for an undisclosed equity stake, the companies said in <a href=\"https:\/\/ent.news\/2021\/10\/EFG-Ignis-EN.pdf\">a joint statement (pdf)<\/a> yesterday.<\/p>\n<p><strong>The investment has handed EFG 49% of Ignis<\/strong>, a source familiar with the matter told <a href=\"https:\/\/www.reuters.com\/business\/efg-hermes-partners-with-spains-ignis-energia-725-mln-investment-2021-10-04\/\">Reuters<\/a>. Spanish newspaper Expansion <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/704503af-280e-4341-873d-93aebeb66013\">reported last week<\/a> that the financial group was eyeing a 45-49% stake in the firm. Media reports in Spain earlier this year claimed that Ignis was open to selling the rest of the company to the partner several years down the road. EFG did not immediately respond to requests for comment by Enterprise.<\/p>\n<p><strong>The investment will help Ignis develop its portfolio of projects<\/strong> and become an integrated independent power producer in Spain, the statement said. Expansion reported last week that the company will add 3 GW of capacity to its portfolio. The capital will be deployed in several stages over the next few years \u201csubject to certain conditions,\u201d the statement added, without disclosing further details.<\/p>\n<p><strong>Ignis Energia is one of the largest solar energy companies in Spain<\/strong>, with 14.2 GW of renewables under development and 2.9 GW of assets under management.<\/p>\n<p><strong>EFG Hermes\u2019 Vortex Energy is an investment platform that targets renewable energy investments.<\/strong> Vortex Energy IV, a recently launched fund by Vortex Energy and its co-investors, is its fourth fund; it has been looking to invest in a wind and solar energy developer in Spain. <strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86c5a819-d5d5-4755-af2f-c9bbfdb504e8\">We have lots more on Vortex<\/a><\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/86c5a819-d5d5-4755-af2f-c9bbfdb504e8\">in this sit-down<\/a> earlier this year with EFG Hermes\u2019 Karim Moussa, who heads the firm\u2019s private equity and asset management units and is CEO of Vortex Energy.<\/p>\n<p><strong>Advisors:<\/strong> Santander and Royal Bank of Canada provided financial advice to Vortex Energy and Watson Farley Williams acted as legal counsel. Citi acted as financial advisor to Ignis and Cuatrecasas had legal duties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u200b\u200bEFG Hermes\u2019 energy investment platform Vortex Energy will invest EUR 625 mn in Spanish solar developer Ignis Energia in return for an undisclosed equity stake, the companies said in a joint statement (pdf) yesterday. The investment has handed EFG 49% of Ignis, a source familiar with the matter told Reuters. Spanish newspaper Expansion reported last [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":555972,"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":[7363],"tags":[84,93,72,7128,150,151,537,1589],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-efg-hermes","tag-energy","tag-enterpriseam","tag-ma-watch","tag-renewable-energy","tag-renewables","tag-spain","tag-vortex-energy","wpautop","entry"],"acf":{"mongo_id":"65a8fe4f-1dec-49a2-b755-187b7dec50cc","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/10\/59.jpg","photo_position":"above","related_issue":[555965],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EFG Hermes\u2019 Vortex invests EUR 625 mn in Spanish solar developer - 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\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Hermes\u2019 Vortex invests EUR 625 mn in Spanish solar developer\" \/>\n<meta property=\"og:description\" content=\"\u200b\u200bEFG Hermes\u2019 energy investment platform Vortex Energy will invest EUR 625 mn in Spanish solar developer Ignis Energia in return for an undisclosed equity stake, the companies said in a joint statement (pdf) yesterday. The investment has handed EFG 49% of Ignis, a source familiar with the matter told Reuters. Spanish newspaper Expansion reported last [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-05T04:00:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/59.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"EFG Hermes\u2019 Vortex invests EUR 625 mn in Spanish solar developer\",\"datePublished\":\"2021-10-05T04:00:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/\"},\"wordCount\":311,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/59.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EFG Hermes\",\"energy\",\"EnterpriseAM\",\"M&amp;A Watch\",\"renewable energy\",\"renewables\",\"Spain\",\"Vortex Energy\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer\/\",\"name\":\"EFG Hermes\u2019 Vortex invests EUR 625 mn in Spanish solar developer - 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EFG is reportedly looking to purchase 45-49% of the company through a capital increase, an agreement\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;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":547087,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/efgs-vortex-energy-invests-eur-222-mn-so-far-in-spanish-solar-firm\/","url_meta":{"origin":555971,"position":1},"title":"EFG\u2019s Vortex Energy invests EUR 222 mn so far in Spanish solar firm","author":"enterpriseam admin","date":"8 June 2022","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/189.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":555971,"position":2},"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 &quot;Energy&quot;","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":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":555971,"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 &quot;Investment Watch&quot;","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":555971,"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 &quot;Energy&quot;","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":555971,"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 &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","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\/555971","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=555971"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555971\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555965"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555972"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555971"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555971"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}