REG - EFG-Hermes Holdings - Vortex Energy Invests c.EUR222 million into Ignis

EFG Holding SAEAnnouncement

07/06/2022 08:45

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RNS Number : 9680N  EFG-Hermes Holdings SAE  07 June 2022

Press Release

Vortex Energy Invests c. €222m into Ignis as it Reaches a Milestone of more
than 1 GW of Ready-to-Build Solar Portfolio

 

The investment is part of a series of capital increases done by Ignis and
funded by Vortex Energy IV and its co-investors to support transforming into a
20GW renewable energy platform

 

Madrid, June 7, 2022

 

Vortex Energy, a leading renewables-focused investment vehicle in Europe,
managed by the private equity arm of EFG Hermes, has announced today that it
invested to-date in Ignis c. €222m of equity capital, consequently
fulfilling its terms of its partnership with Ignis that it initiated last
year.

 

Since Vortex Energy's initial investment in Q4 2021, Ignis has been executing
effectively on its ambitious growth strategy with more than 1GW of Ignis'
Spanish portfolio secured with all key permits to reach ready-to-build (RTB)
status. The company is set to start site preparations and will have c. 500MW
in construction in due course. Ignis' management has been actively negotiating
more than 500MW of bilateral PPAs with blue-chip and reputable off-takers.
Moreover, the company has expanded its international footprint to aggregate c.
11GW of solar, wind and battery storage pipeline outside of Spain.

 

Vortex Energy continues its active strategy to support Ignis' growth with c.
€46m of equity set to be injected in Q4 2022 and a further c. €176m of
equity in Q1 2023.

 

Antonio Sieira, founder and CEO of Ignis: "We continue achieving key
milestones on the route of taking Ignis to become a major global
fully-integrated renewable energy company. We cherish our partnership with
Vortex Energy and look forward to a bright future together."

 

Karim Moussa, CEO of Vortex Energy: "We are extremely delighted with the
achievements of Ignis in such a short period of time and during these
challenging market conditions. Ignis' management skills and quality of its
portfolio continue to solidify its market position. We are here to support
this partnership ensuring our strategic goals are met and will continue
funding our common growth path."

 

Ana Peris Caminero, COO of Vortex Energy: "Ignis' unique execution power and
its deep energy management as well as its operational know-how is critical
today more than ever in our industry. We are committed to continue helping
Ignis' management to build its sizable IPP portfolio in Spain and
internationally."

 

 

-Ends-

 

 

 

About Vortex Energy

 

Vortex Energy was established in 2014 as an investment platform to pursue
energy transition investments globally. Beaufort Management Limited (an
AIFM-compliant entity and ADGM licensed manager of Vortex Energy), which is
part of the Private Equity division of EFG Hermes, comprises of a team of 16
international energy, infrastructure and private equity specialists, that
manage all of the Vortex Energy investments and initiatives.

 

As of 2022, Vortex Energy, via its four funds, aggregated, managed and
divested a substantial European portfolio of wind and solar assets (net
capacities of c. 822MW operational assets). Further, Vortex Energy recently
partnered and invested in Ignis to build out a global c. 20GW renewable energy
portfolio in Europe, US, LatAm and Asia. Through its various transactions,
Vortex Energy has invested c. €1.6bn in energy transition, spanning
(directly and indirectly) the UK, Spain, France, Portugal, Belgium, Italy, and
the USA.

 

Currently, Vortex has its investment and asset management team working out of
Abu Dhabi (ADGM), London and Madrid.

 

Learn more about us at www.vortexenergy.ae

 

About EFG Hermes Holding

 

With a current footprint spanning 13 countries across four continents, EFG
Hermes Holding (EGX: HRHO.CA - LSE: EFGD) has grown over 38 years of success
to transform from a pure-play investment bank in MENA into an impact-driven
universal bank in Egypt with the leading investment bank franchise in Frontier
Emerging Markets (FEM). Drawing on our proven track-record and a diverse team
of talented employees, we provide a wide spectrum of financial services that
include advisory, asset management, securities brokerage, research and private
equity to the entire FEM region. In our home country, we have the
fastest-growing non-bank financial institutions (NBFI) platform with
operations covering microfinance, leasing, factoring, Buy-Now Pay-Later
(BNPL), digital payment solutions, mortgage finance and insurance.

 

Through its three verticals, the Investment Bank, Non-Bank Financial
Institutions (NBFI) and Commercial Bank, the group is perfectly positioned to
consistently bring disruptive financial products and services to the market
space, offering a holistic portfolio that best serves its growing base of
individual clients and businesses of all sizes.

 

Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait |
Oman | Jordan | Pakistan | UK | Kenya | USA | Bangladesh | Nigeria | Vietnam

 

Learn more about us at www.efghermes.com & stay connected with us:

 

For further information, please contact:

 

The EFG Hermes Holding Public Relations Team

 

PublicRelations@efg-hermes.com

 

May El Gammal

Group Chief Marketing & Communications Officer of EFG Hermes Holding

 

melgammal@efg-hermes.com

 

About Ignis

 

Ignis is an integrated renewables group, engaged across the value chain from
development to operation to energy services. Since inception in 2015, Ignis
has been involved in the development of a portfolio of c. 14GW of solar and
wind projects in Spain and c. 8GW in Europe, North America, Latin America and
Asia Pacific. In 2020, Ignis announced the sale to Total Energies of 3.3GW of
Spanish solar projects.

 

Note on Forward-Looking Statements

In this press release, EFG Hermes Holding may make forward looking statements,
including, for example, statements about management's expectations, strategic
objectives, growth opportunities and business prospects. These forward-looking
statements are not historical facts but instead represent only EFG Hermes
Holding's belief regarding future events, many of which, by their nature are
inherently uncertain and are beyond management's control and include among
others, financial market volatility; actions and initiatives taken by current
and potential competitors; general economic conditions and the effect of
current, pending and future legislation, regulations and regulatory actions.
Accordingly, the readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date on which they are
made.

 

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