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Vortex Energy (Vortex) has acquired a 49% stake in Ignis Energy Holdings (Ignis). Vortex will invest over €625m into Ignis through its newly launched Vortex Energy IV Fund and its co-investors, enabling the latter to become a fully integrated renewable IPP and own a greater share of the projects that it develops both in Spain and globally.
Vortex was established in 2014 as an investment platform, sponsored by the Private Equity arm of EFG Hermes, via Luxembourg-based Beaufort Investments, to pursue renewable energy investments globally. As of the end of 2020, Vortex had a circa €1.3bn 822 MW European portfolio of wind and solar assets, spanning the UK, Spain, France, Portugal and Belgium. Ignis is a Spanish energy company, which invests and co-invests in energy assets and has a portfolio of 14 GW renewable energy projects under development in Spain and a further 8 GW across the rest of Europe, North America and the Asia Pacific region. Watson Farley & Williams (WFW) has advised Vortex Energy on the acquisition.
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