Vortex sells its European wind portfolio

4 January 2019

Sian Crampsie

Vortex Energy has sold its 49 per cent stake in a 998 MW European onshore wind energy portfolio, it has announced.

Vortex, a European renewable energy platform managed by the private equity arm of EFG Hermes, has sold the portfolio to a group of institutional investors advised by J. P. Morgan Asset Management.

The sale comes just four years after Vortex launched in Europe. The company said in a statement that the deal will deliver “attractive shareholder value”.

The 998 MW portfolio include 56 operational wind farms spread across Spain, France, Portugal and Belgium. EDPR owns the remaining 51 per cent stake and also manages the portfolio.

“The sale of Vortex Energy’s wind assets demonstrates our ability to acquire, manage and exit renewable energy investments on a global scale,” said Karim Moussa, Head of Private Equity and Asset Management, EFG Hermes. “We remain highly committed to the clean energy market and are now embarking on a new chapter in Vortex’s growth story.”

Matthew LeBlanc, Managing Director, J.P. Morgan Asset Management, Infrastructure Investments Group, said: “We are delighted to acquire the operational wind interests of Vortex Energy, which delivers sustainable, risk-adjusted returns to our investors, which include pension schemes representing over 25 million families.

“The acquisition builds upon our investment momentum in renewables, complementing our European operational wind platform Ventient Energy, and increases our renewables energy production capacity to over 3.8 GW. We are excited to partner with the EDPR alongside our other renewables businesses to continue to grow a truly pan-European renewables independent power producer.”

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