Sources told Daily News Egypt that Vortex Energy IV — a global renewable energy platform managed by the private equity arm of EFG Hermes — has injected its first tranche in relation to its investment in Ignis Energy Holdings — the parent company of Spanish independent integrated renewable player Ignis Group.
The sources added that Vortex Energy will raise over €625m in finances through its newly launched Vortex Energy IV Fund and its co-investors for Ignis via a series of capital injections, which will be deployed over the coming few years, subject to certain conditions.
This will allow Ignis to fund its growth plans and transform into a fully integrated renewable independent power producer in Spain and other locations.
This capital contribution from Vortex Energy IV and its co-investors will allow Ignis to own and operate a growing share of the projects that it develops.
