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Ares Management Establishes Joint Venture With Shell Subsidiary to Invest in U.S. Solar Power Generation
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Ares Management Corporation announced today that a fund managed by the Ares Infrastructure Opportunities strategy (the 'Ares fund') and Savion Equity, LLC ('Savion'), a subsidiary of Shell plc, have established Tango Holdings, LLC ('Tango'), a joint venture that will support solar energy development and management in the United States.
Savion is transferring majority ownership of five solar assets into this joint venture.
"This transaction reflects Shell's strategy to selectively develop renewable generation projects and reduce ownership as they mature, enabling the company to build scale efficiently, improve capital returns, and maintain cost discipline. Shell plans to continue developing other onshore renewable power generation assets through Savion's development pipeline," Shell said
Founded in 2019, Savion develops large-scale solar and energy storage projects across 28 states.
Tango will manage 496 megawatts of Savion-developed solar projects in Ohio, Kentucky, Oklahoma and Indiana.
Tango is jointly owned by the Ares fund (80%) and Savion (20%) and will hold equity interests in Martin County Solar Project, Kiowa County Solar Project and in three additional solar projects currently under construction.
Savion will serve as the managing member of Tango with Shell Renewable Asset Management International overseeing asset management of its projects.
This transaction represents 496 MW of Savion's 3,049 MW solar and energy storage assets under construction, in operation, or under contract.
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July 28, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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