EFG Hermes announced today that Vortex, the European renewable energy platform managed by its private equity division, reached financial closure today on its 100% acquisition of a 365 MW portfolio of 24 operational solar assets in the United Kingdom from TerraForm Power. The transaction marks Vortex’s first investment in the solar energy sector and increases Vortex’s total net operational capacity to 822 MW. Vortex will continue to target wind and solar acquisitions in Europe with a target of owning a total of more than 2 GW in generation capacity within three years,” Moussa added. Since its launch in late 2014, Vortex has successfully invested more than €1.3bn in the European renewables market. The UK solar portfolio joins an existing 457 MW portfolio of operating onshore wind assets operated by EDP Renováveis SA across four Western European countries.

Source: Daily News Egypt May 11, 2017 14:26 UTC