{"id":574714,"date":"2020-09-20T03:59:39","date_gmt":"2020-09-20T03:59:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/20\/efg-managed-vortex-energy-sells-controlling-stake-in-gbp-500-mn-uk-based-solar-energy-portfolio\/"},"modified":"2020-09-20T03:59:39","modified_gmt":"2020-09-20T03:59:39","slug":"efg-managed-vortex-energy-sells-controlling-stake-in-gbp-500-mn-uk-based-solar-energy-portfolio","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/20\/efg-managed-vortex-energy-sells-controlling-stake-in-gbp-500-mn-uk-based-solar-energy-portfolio\/","title":{"rendered":"EFG-managed Vortex Energy sells controlling stake in GBP 500 mn UK based solar energy portfolio"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>INVESTMENT <\/strong><strong>WATCH- EFG-managed Vortex Energy sells controlling stake in GBP<\/strong><strong> 500 mn UK solar energy portfolio:<\/strong> EFG Hermes-managed renewable energy investment company Vortex Energy has sold a controlling stake in its UK solar energy portfolio, Vortex III, to Malaysian utilities company TNB International, in an agreement that handed the portfolio an enterprise value of GBP 500 mn (USD 647 mn), the investment bank said in <a href=\"https:\/\/bit.ly\/3iNwbA1\">a statement<\/a>. The Vortex III portfolio, which contains solar assets producing 365 MW of power, generated returns some 1.5x the size of Vortex Energy\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2017\/05\/14\/efg-hermes-vortex-completes-acquisition-of-uk-solar-power-plants\/\">initial cash investment of GBP 470 mn<\/a> (USD 607.8 mn) in 2017. The bank now wants to build a new Vortex IV renewables portfolio, potentially investing up to USD 600 mn in projects in Europe, Mexico, Chile and Australia, EFG\u2019s head of asset management and private equity, Karim Moussa, told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-17\/egypt-s-efg-hermes-sells-u-k-solar-assets-to-malaysia-s-tenaga?sref=mmeFTDW1\">Bloomberg<\/a>.<\/p>\n<p><strong>Vortex Energy was founded in 2015 to operate renewable energy assets across Europe<\/strong> and has since invested EUR 1.3 bn in equity and debt in wind and solar assets, according to Moussa. The company\u2019s Vortex I and Vortex II portfolios were <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/28\/efg-managed-vortex-divests-stake-in-pan-european-wind-farm-portfolio\/\">last year<\/a> sold last to JPMorgan as the company divested a 49% stake from wind assets owned in Portugal, Spain, Belgium and France. Vortex III marks the investor\u2019s third renewable exit since launching the platform.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>INVESTMENT WATCH- EFG-managed Vortex Energy sells controlling stake in GBP 500 mn UK solar energy portfolio: EFG Hermes-managed renewable energy investment company Vortex Energy has sold a controlling stake in its UK solar energy portfolio, Vortex III, to Malaysian utilities company TNB International, in an agreement that handed the portfolio an enterprise value of GBP [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[84,72,246,3869,1383,151,2380,5901,1589,5900],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574714","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-efg-hermes","tag-enterpriseam","tag-green-economy","tag-karim-moussa","tag-malaysia","tag-renewables","tag-speed-round","tag-tnb-international","tag-vortex-energy","tag-vortex-iii","wpautop","entry"],"acf":{"mongo_id":"fbb80f67-5e60-4c16-aaa6-8994309d03a4","is_powered_by":true,"section_story_id":"e8425aa4-e5d7-459b-aa44-845d254d94e0","story_type":"1","photo_url":"","photo_position":"above","related_issue":[574704],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Spanish\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\/59.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":574714,"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":574714,"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":652374,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/08\/efg-hermes-vortex-to-acquire-365-mw-solar-energy-portfolio-in-uk-at-ev-of-egp-470-mn\/","url_meta":{"origin":574714,"position":3},"title":"EFG Hermes\u2019 Vortex to acquire 365 MW solar energy portfolio in UK at EV of EGP 470 mn.","author":"enterpriseam admin","date":"8 January 2017","format":false,"excerpt":"M&A UPDATE- EFG Hermes unit in GBP 470 mn solar acquisition in United Kingdom. Vortex, EFG Hermes\u2019 European renewable energy platform, has inked a sale and purchase agreement to acquire 24 solar parks from TerraForm power with a combined 365 MW in generation capacity. \u201cThis landmark acquisition caps a two-year\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":635954,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/18\/vortex-sells-45-of-vortex-solar-to-kwap-for-gbp-67-5-mn\/","url_meta":{"origin":574714,"position":4},"title":"Vortex sells 45% of Vortex Solar to KWAP for GBP 67.5 mn","author":"enterpriseam admin","date":"18 December 2017","format":false,"excerpt":"EFG Hermes\u2019 Vortex platform sold a 45% equity stake in its UK solar operation to Malaysia\u2019s second-largest pension fund, Kumpulan Wang Persaraan (KWAP), in a GBP 67.5 mn transaction. 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