Ares Management Corporation has announced a new joint venture with Savion Equity, LLC, a subsidiary of Shell plc, to support solar energy development and management in the United States. The partnership, known as Tango Holdings, LLC, will manage 496 megawatts of solar projects developed by Savion across Ohio, Kentucky, Oklahoma, and Indiana. Ares will hold an 80% stake in the venture, while Savion retains 20%. The collaboration aims to leverage Ares' investment expertise and Savion's operational capabilities to enhance power generation and electricity supply in key U.S. markets, with the goal of delivering attractive returns for investors. Additional terms of the transaction were not disclosed.
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