Publications

Vortex Energy sells stake in solar PV portfolio
Transactions - SEPTEMBER 17, 2020

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Vortex Energy sells stake in solar PV portfolio

by Released

Vortex Energy, a global renewable energy platform managed by Beaufort Investments, a subsidiary of the private-equity arm of EFG Hermes, has sold its controlling and managing stake in Vortex Solar (Vortex III), a 365-megawatt solar photovoltaic portfolio.

The portfolio was acquired in 2017 from TerraForm Power, at an enterprise value of £500 million ($647 million).

The stake was sold to TNB International Sdn Bhd, a wholly owned subsidiary of Tenaga Nasional Berhad, an existing shareholder in the business and one of Southeast Asia’s largest utilities, with an installed capacity of 15 gigawatts globally.

Vortex III is one of the largest standalone portfolios in the United Kingdom, with an average asset age of six years and power-purchase agreements with major European energy companies and utilities.

The Beaufort team is currently planning to establish Vortex IV, a renewable energy platform that will target global generation, storage, distribution and tec

Forgot your username or password?