March 27 (Renewables Now) - European renewable energy platform Vortex Energy has closed the sale of a 49% stake in its 998-MW Pan-European wind portfolio to institutional investors advised by JP Morgan Asset Management.
The portfolio in question includes 56 operational wind farms spread across Spain, France, Portugal and Belgium. It is managed and co-owned by EDP Renovaveis SA (ELI:EDPR), which in turn is the renewables arm of Portuguese utility Energias de Portugal SA (ELI:EDP).
Vortex, an investment platform sponsored and managed by Egypt-based investment bank EFG Hermes (EGX:HRHO), said in a statement that it plans to further invest in renewable energy projects located in North America, Europe and Latin America, in addition to other areas. The platform was created four years ago and now has an 822-MW solar and wind portfolio and over EUR 2.4 billion (USD 2.7bn) in combined executed transactions.
(EUR 1.0 = USD 1.125)