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PE Firm, Investor In Broker, Acquires Renewable Energy Developer
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I Squared Capital, which describes itself as an independent global infrastructure investment manager, today announced that its Energy Transition Fund (ISQ ETIF) has acquired Oriden, a U.S.-based renewable energy developer, from Mitsubishi Power Americas.
Oriden was founded in 2019 to expand renewable energy development capabilities across the United States. Since its founding, Oriden has amassed a diverse pipeline totaling 5+ GW of solar photovoltaic and battery energy storage system projects, largely in the Midcontinent Independent System Operator (MISO) and PJM Interconnection markets, I Squared said
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 buildout of a more diversified asset base."
Gautam Bhandari, Chief Investment Officer of I Squared Capital, said: "This investment reflects our focus on building scaled platforms in sectors where dislocations give us an attractive entry point. Currently, the U.S. energy transition market presents a compelling entry opportunity for long-term, disciplined, value investors. Growing power demand and the need to bring generation online rapidly provide structural tailwinds for the future growth of this platform."
Damian Darragh, Fund Partner at I Squared Capital, said: "Oriden represents a compelling opportunity to establish a scalable renewable energy development platform in the U.S. We are particularly attracted to its quality pipeline in MISO and PJM, two markets with strong fundamentals and significant demand for new clean generation. We look forward to partnering with Oriden’s experienced management team to advance these projects and support the ongoing energy transition."
I Squared has been investing across the energy transition value chain since inception, deploying over $7.2 billion across energy transition assets globally.
Among I Squared's energy investments is Priority Power
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April 27, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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