Vortex Energy has completed the sale of its 49% stake in a 998MW wind energy portfolio.

The European renewable energy platform, which is managed by the private equity arm of EFG Hermes, completed the sale of its stake in 56 operational wind farms spread across Spain, France, Portugal and Belgium.

The stake in the facilities, which are managed and co-owned by EDPR, have been sold to institutional investors advised by JP Morgan Asset Management.

A floating wind energy project has received €4 million (£3.4m) of new funding from the EU Commission Horizon 2020 initiative.