Oil behemoth Shell will acquire 43% interest in solar developer Silicon Ranch

By Kelly Pickerel Shell announced today it has signed an agreement to acquire a 43.83% interest in U.S. solar company Silicon Ranch Corporation from funds managed and/or advised by Partners Group. Consideration for the shares is between $193 and $217 million contingent on Silicon Ranch achieving predetermined milestones.
A separate agreement with Silicon Ranch will give Shell the possibility to increase its ownership after 2021. Subject to regulatory approvals, the transaction is expected to close in Q1 2018.
“Partnering with Silicon Ranch Corporation progresses our New Energies strategy and provides our U.S. customers with additional solar renewable options,” said Marc van Gerven, Shell Vice President

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