Ignis to sell EUR 300 mn of its solar portfolio: Spanish renewables developer Ignis Energia is selling five solar power projects worth some EUR 300 mn, reports Spanish newspaper Expansion in a story picked up by Reuters, with the renewable energy firm hiring investment bank Lazard to work on the sale. The portfolio of projects up for sale has a combined electricity capacity of 380 MW that is expected to come online late 2024.

The Egypt connection: Egyptian financial institution EFG Holding’s clean energy investment platform Vortex Energy signed an agreement in 2021 to invest EUR 625 mn in the company for what media reported was a 49% stake. Vortex is making incremental equity investments in the firm, announcing separate EUR 222 mn and EUR 46 mn commitments during 2022. The investment was made through the renewables-focused Vortex Energy IV Fund, which reached its first close of USD 200 mn in July 2021.

The next round of investment is expected soon: Vortex said last year that it would invest another EUR 176 mn in the company in 1Q 2023, with the remaining EUR 181 mn coming after.

Ignis is one of the largest solar energy companies in Spain: The company has 20 GW of projects under development and 4.5 GW of assets under management.