Alphabet To Acquire Intersect Power For $4. 75 Billion To Boost Renewable Energy For Data Centers

In a move to bolster its data center construction efforts, Alphabet, the parent company of Google LLC, has agreed to acquire renewable energy company Intersect for $4. 75 billion. This acquisition also includes the assumption of Intersect’s outstanding debt, with the transaction expected to be completed in the first half of 2026. Intersect, founded in 2016, specializes in developing solar and wind power installations equipped with on-site battery arrays.

These batteries play a crucial role in ensuring a steady supply of energy during periods of limited power generation, such as during cloudy weather when solar panels’ output is decreased. According to Intersect’s website, its completed and ongoing energy infrastructure projects represent a substantial 10. 8 gigawatts of power generation capacity.

A notable example of Intersect’s work is a solar park in Haskell County, Texas, commissioned by Google last year. Once fully operational in 2027, this installation will generate 640 megawatts of power. It will host a battery-powered energy storage system with a capacity of 1. 3 gigawatts. This project underscores the partnership between Google and Intersect, which saw Google co-lead a funding round for Intersect in December, securing over $800 million in investment.