AIG Financial Products Corp., an AIG company (AIG), has reported that it 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 35.4MWp and an enterprise value of approximately €300 million. 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,” said Gerry Pasciucco, AIGFP Chief Operating Officer. As previously disclosed, AIGFP began the process of unwinding its businesses and portfolios late last year.
Terms of the transaction were not disclosed.
American International Group, Inc. ("AIG"), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
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