Savion has equity interests in the Martin County Solar Project, the Kiowa County Solar Project and three additional solar projects currently under construction.
The joint venture supports Shell’s strategy to selectively develop renewable energy projects and reduce ownership as they mature. Tango is structured with Ares holding an 80% stake and Savion owning 20%. The agreement includes equity interests in the Martin County Solar Project, the Kiowa County Solar Project, and three additional solar projects under construction. Savion, headquartered in Kansas City, Missouri, and established in 2019, will serve as the managing member, while Shell Renewable Asset Management International will handle asset management duties. The transaction was effective immediately upon signing, with no further financial details disclosed.
Greg Joiner, Shell Power executive vice-president, stated: “The investment by Ares is a testament to Savion’s success building and operating assets that deliver renewable power to key energy markets in the USA.” He added: “Launching Tango with a strategic investment partner like Ares will allow us to maximise the value of our power generation portfolio as we continue to build a more focused, competitive and adaptive business.” Savion’s expertise spans large-scale solar and energy storage projects across 28 states, with the 496MW in Tango drawn from its 3,049MW portfolio of operational, contracted, or under-construction assets.
Ares Management, overseeing approximately $546 billion in assets as of March 2025, brings extensive experience to the partnership. Steve Porto, partner in Ares Infrastructure Opportunities strategy, commented: “We look forward to partnering with Savion on this exciting initiative that allows us to draw on our combined capabilities in power generation to support these important assets.” He further noted: “As a leading investor in critical private infrastructure projects, we believe Ares’ scale and experience across the asset life cycle alongside Savion’s operational prowess will help bolster the supply of electricity in key US markets as we seek to deliver attractive returns for our investors.”
The partnership reflects a shared commitment to enhancing renewable energy infrastructure in the U.S., leveraging Savion’s development capabilities and Ares’ investment expertise to strengthen the supply of clean energy in key regions.
