Egyptian investment bank EFG Hermes acquires a 49% stake in 664 MW of wind power assets in Europe

Egyptian investment bank EFG Hermes has agreed to acquire a 49% stake
in its 664 MW of European wind assets from Spanish renewable energy company EDP Renovaveis (EDPR).

Egyptian investment bank EFG Hermes acquires a 49% stake in 664 MW of wind power assets in Europe

In 2014, EFG Hermes Bank also acquired a 49% stake
in EDP Renovaveis' French company.

The latest transaction worth €550 million involved wind farm assets
located in Spain 348 MW, Portugal 191 MW, Belgium 71 MW and France 54 MW.
These assets generate more than 1.
7 terawatt hours per year, with an average operating age of 4 years and a remaining regulatory period of 15 years
.
Bakr Abdel-Wahab, managing director of infrastructure private equity at EFG Hermes, noted that the profit margins and utilization rates of wind farms in the portfolio are above the market average
.

Vortex, a renewable energy platform managed by EFG Hermes' private equity division, has signed a sale and purchase agreement
with the EDPR division.
The acquisition is in line with Vortex's goal of
having more than 1 GW of net wind capacity within two years.

Karim Moussa, head of EFG Hermes private equity firm Karim Moussa, noted that 550 million euros
have been raised.
The buyer has secured a 13-year line of credit from five European banks to cover 60 percent of the amount, while the other 40 percent will be paid in the form of equity, dominated
by sovereign capital from the GCC region.

The acquisition will close in the second quarter of this year, subject to regulatory approvals and other prerequisites
.
Upon completion of the acquisition, Vortex's net installed wind capacity in Western Europe will increase to 457 MW
.

"We will continue to pursue high-quality income-producing assets that offer attractive return potential
to investors in developed and selective emerging markets.
" Moussa added
.

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