AIG Sells Stake In Spanish Solar Plants To HgCapital

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AIG Financial Products Corp. (AIGFP), an AIG company, has closed the sale of its interests in three operating Spanish solar photovoltaic plants from its energy and infrastructure book. The plants have a combined capacity of 35.4 MW and an enterprise value of approximately 300 million British pounds.

HG Capital, a London-based private equity firm focused on renewable energy, acquired AIGFP's interests for an undisclosed sum.

‘This sale continues AIGFP's ongoing program of investment portfolio dispositions, further reducing its overall risk profile,’ states Gerry Pasciucco, chief operating officer of AIGFP. As previously disclosed, AIGFP began the process of unwinding its businesses and portfolios late last year.

SOURCE: AIG Financial Products Corp.

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