Standing, from left: Silicon Ranch board member Byron Smith, Boris Schubert of Shell GM Solar Projects, Silicon Ranch CFO Reagan Farr, Silicon Ranch Chief Corporate Development Officer David Vickerman. Sitting, from left: Silicon Ranch Chairman Phil Bredesen, Shell VP of Solar Marc van Gerven, Silicon Ranch CEO Matt Kisber
Standing, from left: Silicon Ranch board member Byron Smith, Boris Schubert of Shell GM Solar Projects, Silicon Ranch CFO Reagan Farr, Silicon Ranch Chief Corporate Development Officer David Vickerman. Sitting, from left: Silicon Ranch Chairman Phil Bredesen, Shell VP of Solar Marc van Gerven, Silicon Ranch CEO Matt Kisber
Global energy conglomerate Royal Dutch Shell plans to pay about $200 million for nearly 44 percent of Silicon Ranch, the solar energy company launched eight years ago by former Gov. Phil Bredesen and two of his then-commissioners.
Shell officials say they will take over the large minority interest in Silicon Ranch from Partners Group, the Switzerland-based investment group that has pumped $155 million into Silicon Ranch since the spring of 2016. Depending on Silicon Ranch hitting certain performance targets, Shell will pay between $193 million and $217 million in a deal expected to be completed later this quarter. At the high end of that range, Shell’s purchase values Silicon Ranch at $495 million.
