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Vortex Energy to sell 49% stake in 998-MW European wind portfolio

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Vortex Energy to sell 49% stake in 998-MW European wind portfolio

Vortex Energy Holding Ag, a European renewable energy developer, agreed to divest a 49% interest in a 998-MW portfolio of operational wind projects managed and co-owned with EDP Renováveis to institutional investors advised by J.P. Morgan Asset Management.

The deal includes the sale of 56 operational wind farms across Spain, France, Portugal and Belgium, Vortex Energy said in a Dec. 21 news release. Vortex Energy is managed by the private equity arm of EFG-Hermes Holding SAE, an Egyptian financial services provider.

Terms of the deal were not disclosed. The closing of the transaction is subject to the completion of certain conditions.

J.P. Morgan Asset Management's European wind energy platform is called Ventient Energy Services Ltd. It is headquartered in Edinburgh, Scotland, and owns and operates wind farms across the U.K.

BofA Merrill Lynch, Shearman & Sterling, Linklaters, PwC, DNV GL, and Baringa served as advisers to Vortex on the transaction.