I Squared Capital has announced that its Energy Transition Fund has acquired Oriden, a U.S.-based renewable-energy developer, from Mitsubishi Power Americas.
Headquartered in Pittsburgh, Oriden was founded in 2019 to expand renewable energy development capabilities across the United States. Since its founding, Oriden has grown rapidly, establishing itself as a leading independent renewable-energy developer with a proven track record of advancing projects from greenfield origination to shovel-ready status and a diverse pipeline totaling more than 5 gigawatts of solar photovoltaic and battery energy storage system (BESS) projects, largely in the Midcontinent Independent System Operator (MISO) and Pennsylvania-New Jersey-Maryland Interconnection (PNM) markets.
I Squared plans to invest approximately $300 million to support Oriden’s next phase of growth, including its evolution from a development-led model into a next-generation independent power producer and the buildou
