I Squared Capital acquires Oriden from Mitsubishi Power Americas

Type: Acquisition · Technology: Solar, Storage · Country: United States · Value: $300M · Announced: 2026-04-28

I Squared Capital completed the acquisition of Oriden, a US-based renewables developer, from Mitsubishi Power Americas for approximately $300 million. Oriden operates a development pipeline exceeding 5 GW of solar PV and battery energy storage projects, primarily focused on the MISO and PJM power markets. The transaction enables I Squared Capital to establish a scalable renewables platform in the US, transitioning Oriden from a development-led model into an independent power producer. I Squared Capital plans to invest an additional $300 million to support Oriden’s growth and expansion of its asset base. The deal aligns with I Squared Capital’s strategy to capitalize on structural tailwinds in the US energy transition market, driven by growing power demand and the need for rapid clean generation deployment.

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