Oriana Power has entered a Memorandum of Understanding with Invest Alberta Corp. (IAC), to explore and develop renewable energy projects in Canada’s Alberta province.
Under this MOU, Oriana and IAC intend to develop a vertically integrated renewable energy complex. Additionally, Oriana may consider phased investment opportunities in the projects initially ranging from $300 million to $500 million, with the potential to scale to a $1 billion investment within five years, depending on the identification of viable business projects.
IAC will support Oriana in navigating provincial programs and optimizing collaboration with the Alberta Government, building connections with domestic and international stakeholders, and facilitating partnerships with Alberta’s post-secondary institutions to develop a skilled talent pipeline.
This collaboration marks a significant milestone in Oriana’s global expansion strategy and Alberta’s transition toward a sustainable, low-carbon future.
“Alberta is emerging as a key market for Oriana. During the [Calgary] Stampede, I engaged with renewable energy and hydrogen industry leaders and saw firsthand the province’s incredible potential. Calgary, in particular, stands out as a vibrant, globally connected city for trade and clean energy investment,” Anirudh Saraswat, Chief Business Officer of Oriana. “We are excited to partner with IAC to bring world-class renewable energy innovation to Canada. This collaboration represents not just an intention to invest in clean energy, but in people, communities, and the shared future of both India and Alberta.”
“This partnership aligns with Alberta’s strategy to attract global leaders in clean technology and renewables in order to create jobs and diversify the Alberta economy. Oriana’s intention to explore opportunities in Alberta has the potential to contribute to sustainable economic growth and support the province’s continued leadership in the global energy transition,” said Rick Christiaanse, CEO, Invest Alberta.
Oriana Power, a private-sector renewable power producer in India, focuses on utility-scale solar, battery storage, green hydrogen, and compressed biogas projects. It currently owns and operates 500 MW of solar assets and is set to achieve 2 GW by the end of next year. The company is developing compressed biogas (CBG) projects; battery energy storage systems (BESS) with a total capacity of 650 MWh; green hydrogen projects, with 10 ktpa capacity secured from Solar Energy Corp. of India.
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