Shell acquired a 49% stake in Cleantech Solar.

Shell acquired a 49% stake in Cleantech Solar, a leading developer, owner, and operator of commercial and industrial solar energy systems in Southeast Asia and India. Financial terms were not disclosed. “We are very impressed by Cleantech Solar’s record of developing lasting relationships with multinational and regional corporations who are eager to implement subsidy-free renewable energy into their corporate strategies,” said Marc van Gerven, Shell Vice President of solar and storage. “Asia is a significant commercial and industrial solar generation market for Shell and we are proud to work with Cleantech Solar as a leading solar company in the region.”