Vortex, the renewable energy platform of EFG Hermes’ private equity arm, has finally closed its purchase solar assets from SunEdison yieldco TerraForm Power.
And Karim Moussa, head of asset management and private equity at EFG Hermes, claimed the company was not finished in the European market and had itself a target owning more than 2GW of operational solar and wind capacity within the next three years.
The deal was first announced in January this year and has closed some four months later.
The 24 sites have a total generation portfolio of 365MW and the single purchase catapults Vortex into becoming one of the largest holders of UK solar assets.
However Vortex has confirmed it plans to sell down a significant majority of its own equity share of the transaction.
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