Ares Management Forms 496MW Solar JV with Shell Subsidiary Across Four US States

Ares Management Corporation has formed a strategic joint venture with Savion Equity, a subsidiary of Shell plc, to create Tango Holdings, LLC, focusing on expanding solar energy projects in the U.S. Tango Holdings will manage 496 megawatts of solar projects across Ohio, Kentucky, Oklahoma, and Indiana, including the Martin County and Kiowa County Solar Projects, plus three additional sites under construction. Ares holds an 80% stake through its Infrastructure Opportunities fund, while Savion retains 20%, with Savion acting as managing member and Shell Renewable Asset Management International overseeing operations. This partnership leverages Ares' capital and infrastructure expertise alongside Savion's technical and operational capabilities, enabling scalable growth in renewable energy without operational risk for Ares. The venture aligns with Ares' broader strategy of investing in stable, cash-flow generating infrastructure assets positioned to benefit from the accelerating energy transition. The collaboration underscores the growing emphasis on clean power development as demand surges in key U.S. markets.