A 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.