Alphabet to Buy Intersect Power to Bypass Energy Grid Bottlenecks

Alphabet, the parent company of Google, is set to acquire Intersect Power, a data center and clean energy developer, in a deal worth $4.75 billion in cash, plus debt. This move is aimed at bypassing energy grid bottlenecks and providing a more sustainable solution for Alphabet's data centers.

The acquisition is a strategic move by Alphabet to reduce its reliance on the traditional energy grid and transition to cleaner energy sources. Intersect Power's expertise in developing data centers and clean energy solutions will enable Alphabet to power its data centers with renewable energy, reducing its carbon footprint and increasing its energy efficiency.

Intersect Power has developed several data centers and clean energy projects, including a 1.1-gigawatt solar farm in Texas and a 1.2-gigawatt wind farm in Oklahoma. The company has also developed a proprietary technology that enables data centers to be powered by renewable energy sources.

The acquisition is expected to be completed in the first half of 2026, subject to regulatory approvals. Alphabet's acquisition of Intersect Power is a significant step towards its goal of becoming carbon neutral by 2030.

Sources

[4] Alphabet to buy Intersect Power to bypass energy grid bottlenecks