Vortex Energy, a renewables-focused investment vehicle, managed by EFG Hermes, has invested €222m of equity capital in Ignis to date, consequently fulfilling its terms of its partnership with Ignis that it initiated last year.
Since Vortex Energy’s initial investment in the fourth quarter of 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 status.
The company is set to start site preparations and will have 500MW in construction in due course.
Ignis’ management has been negotiating more than 500MW of bilateral PPAs with blue-chip and reputable off-takers.
The company has also expanded its international footprint to aggregate an 11GW of solar, wind and battery storage pipeline outside of Spain.
Vortex Energy continues its strategy to support Ignis’ growth with €46m of equity set to be injected in the fourth quarter of 2022 and a further €176m of equity in the first quarter of 2023.
Antonio Sieira, founder and CEO of Ignis, said: “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.”