Shell has agreed to buy a controlling stake in US solar project developer, owner and operator Silicon Ranch Corporation. The Anglo-Dutch energy giant will buy 43.83% of the Nashville-based company from Partners Group, a global private markets investment manager. In an announcement on Tuesday, Shell said it would pay $US1.05 billion ($A2.06 billion) for the company, which is owned by investors including Shell has the option to increase its stake after 2021.
Shell has agreed to buy a controlling stake in US solar project developer, owner and operator Silicon Ranch Corporation. The Anglo-Dutch energy giant will buy 43.83% of the Nashville-based company from Partners Group, a global private markets investment manager. The deal is valued at up to $217m in cash, based on Silicon Ranch's performance. Shell has the option to increase its stake after 2021.