Vortex €550 million acquisition of EDP Renewables Europe wind farm portfolio

Overview:

• EDP Renewables Europe, a subsidiary of leading renewable energy company EDP Renováveis (EDPR), has sold a 49% stake in an asset portfolio of 23 onshore wind projects in Spain, Portugal, France and Belgium to Vortex, a fund led by Middle East investment bank EFG Hermes, for €550 million.
• The full enterprise value of the total portfolio amounts to over €1 billion.
• This transaction is part of EDPR’s asset rotation strategy, by which the value of its projects’ future cash-flow stream is re-invested in the development of quality and value accretive projects.

Adam Majeed - Regional editor