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Reading: Vortex Energy IV to inject €625m into Ignis
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Dailynewsegypt > Blog > Business > Vortex Energy IV to inject €625m into Ignis
Business

Vortex Energy IV to inject €625m into Ignis

Fatma Salah
Last updated: 2022/03/28 at 11:21 PM
By Fatma Salah 1 Min Read
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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.

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TAGGED: Vortex Energy
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World Bank agrees $7bn new partnership framework with Egypt
World Bank agrees $7bn new partnership framework with Egypt
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Egypt’s foreign minister phones Algerian counterpart over boosting ties
Egypt’s foreign minister phones Algerian counterpart over boosting ties
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