Oriana Inks $1 Bn Pact To Explore Clean Energy Projects in Alberta

New Delhi-based Oriana Power (formerly Oriana Power Private Limited, Oriana) and Invest Alberta Corporation, Canada (IAC) have entered a non-binding Memorandum of Understanding (MoU) to collaboratively advance renewable energy development in Alberta, Canada.

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Oriana and IAC, under this MoU, intend to develop a vertically integrated renewable energy complex. Additionally, Oriana has expressed an inclination to consider phased investment opportunities in the Project(s), initially ranging from USD 300 million to USD 500 million, with the potential to scale up to USD 1 billion investment within five years, depending upon the identification of viable business projects. 

This collaboration would explore and develop renewable energy projects in the province of Alberta, Canada. It would also expand Oriana’s global presence and support Canada's transition toward a sustainable, low-carbon future. 

Role of IAC: 

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IAC will support Oriana in: 

• Navigating provincial programs and optimizing collaboration with the Alberta Government. 
• Building connections with domestic and international stakeholders. 
• Facilitating partnerships with Alberta’s post-secondary institutions to develop a skilled talent pipeline.  

Anirudh Saraswat, Chief Business Officer of Oriana, stated, “Alberta is emerging as a key market for Oriana. During the 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. We are excited to partner with IAC to bring world-class renewable energy innovation to Canada.” Anirudh added, “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.” 

Rick Christiaanse, Chief Executive Officer of IAC, added: “This partnership aligns with Alberta’s strategy to attract global leaders in clean technology and renewables 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.”