Shell takes Silicon Ranch stake to launch global solar push

Oil major Shell stated its global solar ambitions as it agreed a deal to become the largest shareholder in US PV developer Silicon Ranch.

Shell will pay up to $217m for a 43.8% stake in Nashville-based Silicon Ranch, which has 880MW of solar operating or under construction in 14 states, and about 1GW in its pipeline.

Silicon Ranch – which develops then operates its plants – has grown rapidly under a strategy that centres on “building long-term relationships with electric cooperatives, military partners, and corporate customers across the country”, according to a statement announcing the deal.