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Shell Bolsters Renewables Bet With Stake in U.S. Solar Company

  • Interest may be worth up to $217 million, based on performance
  • Oil companies have been expanding into power, renewables
Operations At The Enbridge Inc. Sarnia Solar Facility
Photographer: James MacDonald/Bloomberg
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Royal Dutch Shell Plc is investing in a U.S. solar energy developer, continuing its recent expansion into the electricity business.

The Anglo-Dutch oil and gas producer will acquire a 44 percent stake in Nashville’s Silicon Ranch Corp., which owns and operates about 100 solar facilities across the U.S. The investment could be as high as $217 million in cash, depending on the company’s performance, making Shell the largest shareholder, according to a statement.