Savion Equity, a US-based subsidiary of Shell, and Ares Infrastructure Opportunities have established a joint venture named Tango Holdings, LLC. The venture will oversee 496MW of solar projects located across Ohio, Kentucky, Indiana, and Oklahoma. It includes five assets developed by Savion, with Ares holding an 80% equity stake and Savion retaining 20%. The arrangement supports Shell’s strategy to scale renewable power by reducing ownership in maturing assets while continuing project development through Savion’s pipeline. Savion will act as the managing member of the joint venture, with Shell Renewable Asset Management International responsible for asset operations. The transaction was structured to sign and close simultaneously, taking effect immediately, and focuses on capital efficiency and disciplined asset management.