20. September 2020
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EFG Hermes (HRHO) stated that Vortex Energy Company, which is managed by the former's subsidiary Beaufort Investments s.a.r.l, has finalized selling its controlling stake in United-Kingdom based Vortex Solar to TNB International Sdn Bhd, according to EFG Hermes’ September 17th statement filed to the Egyptian Exchange.
TNB International Sdn Bhd is fully owned by Malaysia-based company Tenafa Nasional Berhad.
Vortex Solar is 5% owned by EFG Hermes that will get proceeds of £11 million which returned from an investment of £7.5 million.
Vortex Solar is one of the largest standalone portfolios in the UK, with an average asset age of 6 years, PPAs with major European energy companies and utilities, an attractive ROC regime and a long-term debt package from major lenders including Santander, RBS and ING.