Tenaga Nasional Berhad completed the acquisition of a majority stake in Vortex Energy from EFG Hermes for £11m.

Tenaga Nasional Berhad, a South East Asia's utilities firm with an installed capacity of c.15GWs globally, completed the acquisition of a majority stake in Vortex Energy, a global renewable energy platform, from EFG Hermes, a private equity firm, for £11m. "We continue to demonstrate our ability to pursue the full cycle of raising capital, investing strategically and exiting major renewable energy portfolios. Since launching Vortex in 2015, we have combined net 822MW of premium assets while investing more than €1.3bn in the sector in developed markets. We have been consistently delivering attractive returns to our shareholders and partners by aggregating and enhancing assets and then selling portfolios to strategic long-term owners of renewable energy assets. This is the second major exit following the disposal of our 49% stake in a 1GW wind portfolio to funds managed by JP Morgan last year," Karim Moussa, EFG Hermes Head of Private Equity and Asset Management.