Partners Group is selling its 43.83% stake in Silicon Ranch Corporation to Royal Dutch Shell for up to $217m (€177.5m).

The Swiss multi-asset manager, which is selling the US solar energy facilities operator, said Shell will pay at least $193m and up to an additional $24m depending on the company reaching certain targets.

In addition, Partners Group said it will continue to support Silicon Ranch through a newly issued junior debt financing simultaneous with the closing of the sale.

Founded in 2011 and headquartered in Nashville, Tennessee, Silicon Ranch is an independent solar power producer in the US.

Partners Group bought into Silicon Ranch in April 2016.

Todd Bright, a partner and head of private infrastructure at Partners Group Americas, said: “We are immensely proud of having supported Silicon Ranch in its recent expansion.

“With our support, the company has been able to execute its growth plan faster than expected and we are taking the opportunity to divest our equity stake to a strategic investor ahead of the original investment plan.”

Partners Group said it still remains a significant investor in renewable energy projects worldwide on behalf of its clients, with a particular focus on solar and wind energy.

In addition to the continued support of Silicon Ranch, Partners Group recently announced the acquisition of a 45% equity stake in Borssele III/IV, a 731.5MW construction-ready offshore wind farm in the Netherlands.