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1 min read photovoltaics

AIG arm sells off Spanish solar interests

solar-panels-in-fieldA subsidiary of embattled finance-insurance firm AIG has sold off its interests in three Spanish photovoltaic plants.

AIG Financial Products Corporation (AIGFP) sold its interests in the plants to HG Capital, a London-based private equity firm focused on renewable energy, for an undisclosed sum.

The three plants have a total combined capacity of 35.4 megawatts and a value of about €300 million.

AIG has been unwinding its businesses and portfolios since the giant firm’s financia near-collapse late last year.

“This sale continues AIGFP’s ongoing program of investment portfolio dispositions, further reducing its overall risk profile,” said Gerry Pasciucco, AIGFP’s chief operating officer.

Published by:

Dan Ilett

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