I Squared Capital acquires Oriden from Mitsubishi Power Americas

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.

Counterparts (3)

Investor

I Squared Capital Energy Transition Fund

company · 1 deals

Global independent infrastructure investor founded in 2012 managing $55B in assets across energy transition, utilities, transport, and digital infrastructure with operations in nine countries.

Buyer

I Squared Capital

company · 6 deals

I Squared Capital is an independent global infrastructure investor focusing on energy infrastructure, utilities, transport and logistics, digital infrastructure, social, and environmental infrastructure. They develop investment platforms in infrastructure and aim to invest in a more sustainable future.

Seller

Mitsubishi Power Americas

company · 1 deals

Mitsubishi Power Americas is a power generation equipment manufacturer and OEM specializing in gas turbines, steam turbines, boilers, and related systems for utilities and energy transition projects globally, with a focus on GTCC and hydrogen-ready technologies.