Alternative asset management firm Ares announced the formation of Tango Holdings, a new joint venture with Shell subsidiary Savion Equity, to invest in solar power generation in the U.S.
The new entity is jointly owned by the two firms, with Ares owning 80% and Savion 20%.
Founded in 2019, Savion has been focused on the development of large-scale solar and energy storage projects across 28 U.S. states. Tango will now oversee a portfolio of 496 megawatts of solar projects developed by Savion across Ohio, Kentucky Oklahoma and Indiana. It will also hold equity interests in Martin County Solar Project,
