Alphabet, the technology conglomerate behind Google, has announced an agreement to acquire Intersect, an independent power producer that provides industrial-level projects with hybrid power generation.
The acquisition is for $4.75bn in cash plus the assumption of debt.
Google’s acquisition of Intersect is designed to increase the speed at which data centre and generation capacity come online. The deal includes Intersect’s workforce and several gigawatts of energy and data centre projects currently under construction or in development through an existing partnership with Google.
The news comes as companies expand their data centres to keep up with the increasing demand for accessible AI, with some looking to renewables to manage the technology’s vast energy consumption.
At the end of 2025, Google entered into a 21-year Power Purchase Agreement with multi-energy company TotalEnergies to supply renewable energy to Google’s Malaysian data centre.
Sheldon Kimber, CEO and Founder of Intersect, noted that “Modern infrastructure is the linchpin of American competitiveness in AI. We share Google’s conviction that energy innovation and community investment are the pillars of what must come next.”
Operational structure
Intersect will work closely with Google’s technical infrastructure team on joint initiatives, including a co-located data centre and power site currently under construction in Texas.
Sundar Pichai, CEO of Google and Alphabet, said: “Intersect will help us expand capacity, operate more nimbly in building new power generation in lockstep with new data centre load, and reimagine energy solutions to drive US innovation and leadership.”
Specific assets are excluded from the transaction, including Intersect’s existing operating assets in Texas and its operating and in-development assets in California.
These will continue to function as an independent company supported by its current investors, TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners.
[Image credit: Intersect]
