Google To Acquire Renewable Energy Firm Intersect For $4. 75 Billion

In a move that underscores the tech giant’s commitment to sustainable growth, Alphabet, the parent company of Google, has agreed to acquire Intersect, a renewable energy project developer, for a staggering $4. 75 billion. This cash deal, which also includes the assumption of debt, marks a significant escalation in Google’s pursuit of clean energy solutions.

The acquisition brings Intersect’s team and a pipeline of multiple gigawatts of energy and data center projects into Google’s fold, many of which are already in development or under construction. This strategic move is expected to accelerate Google’s data center development, enabling the company to bring more electricity generation capacity online at a faster pace.

Intersect’s founder and CEO, Sheldon Kimber, expressed his enthusiasm for the deal, citing the potential for accelerated innovation at scale. “Intersect has always been focused on bringing innovation to the industry and we look forward to accelerating at scale as part of Google,” he said. Kimber also highlighted the importance of modern infrastructure in driving American competitiveness in AI, emphasizing that energy innovation and community investment are crucial to future growth.

As part of the deal, Intersect will continue to explore emerging technologies aimed at increasing and diversifying energy supply, while supporting Google’s U. S. data center investments.