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Shell takes 49 per cent stake in S'pore solar energy developer

Deal with Cleantech Solar gives Shell an established platform in S-E Asia and India

Published Wed, Dec 19, 2018 · 09:50 PM

Singapore

ROYAL Dutch Shell has taken a 49 per cent stake in Cleantech Solar, a Singapore-based developer of solar energy systems, with the possibility to increase its position after 2021.

The sum was undisclosed, but in September 2018, Cleantech Solar had received a US$50 million equity investment from climate-focused investment manager Climate Fund Managers (CFM).

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