I Squared Capital Acquires Oriden's 5+ GW Solar and BESS Development Pipeline from Mitsubishi Power Americas
I Squared Capital's Energy Transition Infrastructure Fund has acquired Oriden, a US-based renewable energy developer with a 5+ GW pipeline of solar PV and BESS projects in the MISO and PJM markets, from Mitsubishi Power Americas. I Squared plans to invest approximately $300 million to accelerate Oriden's evolution into a next-generation independent power producer headquartered in Pittsburgh, Pennsylvania.
Transaction date: · Source: isquaredcapital.com
Key facts
- Transaction date
- Technology
- Solar PV, Battery Storage (BESS)
- Capacity
- 5,000 MW
- Transaction price
- Not disclosed
- Buyer
- I Squared Capital
- Country
- United States
- Region
- MISO and PJM markets (multiple US states)
- Location
- Pittsburgh, Pennsylvania (headquarters); projects across MISO and PJM regions
- Continent
- North America
- Development status
- Under Development
- PPA
- n.a.
Technology details
Development platform with a pipeline of 5+ GW of solar PV and battery energy storage system (BESS) projects at various stages from greenfield origination to shovel-ready status. Projects largely concentrated in the MISO and PJM Interconnection markets.
Additional information
I Squared Capital 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. Oriden was founded in 2019 and is headquartered in Pittsburgh, Pennsylvania.
Source
Original announcement: https://isquaredcapital.com/news/oriden-acquisition-renewable-energy/