Vortex Energy agrees sale of 49% stakes in 998 MW wind portfolio

Vortex Energy, a platform managed by Egyptian bank EFG Hermes, has signed an agreement with JP Morgan Asset Management (JPMAM) to sell a 49% shareholding in an operational European wind portfolio managed and co-owned by EDPR. 

The deal involves the sale of interests in 56 operational wind farms with a gross capacity of 998 MW spread across Spain, France, Portugal, and Belgium to institutional investors advised by JPMAM.

Vortex’s advisors on the transaction included BofA Merrill Lynch (sell-side M&A advisor), Shearman & Sterling (legal), Linklaters (legal), PwC (financial and tax), DNV GL (technical), Baringa (market).

The closing of the transaction is subject to the completion of certain conditions precedents.