Catenaa, Tuesday, December 23, 2025- Google parent Alphabet said Monday it will acquire Intersect Power, a data center and energy infrastructure firm, in a deal valued at $4.75 billion, excluding debt, as it moves to secure power for its expanding data center footprint.
The transaction includes multiple gigawatts of power generation and data center projects that are under development or construction through Intersect’s existing partnership with Google. The companies said the deal is expected to close in the first half of next year, subject to customary conditions.
Intersect develops energy and data center projects that co-locate industrial power demand with natural gas and renewable generation. Alphabet said the acquisition supports Google’s efforts to meet growing electricity needs driven by artificial intelligence workloads and data processing.
Intersect will continue to operate as a separate brand following the transaction. Chief Executive Officer Sheldon Kimber will remain in charge and work closely with Google on current and future developments. Planned collaboration includes a co-located data center and power project in Haskell County, Texas.
The deal does not include Intersect’s existing Texas assets or projects in California that are operating or under development. Those assets will be spun into a separate, independent company backed by investors including TPG Rise Climate, Climate Adaptive Infrastructure and Greenbelt Capital Partners.
Google and TPG Rise Climate announced a strategic partnership with Intersect last year, with Google taking a minority stake. That partnership outlined plans to catalyze up to $20 billion in renewable energy investment over the decade.
The acquisition comes amid rising interest from technology firms and regulators in pairing new data centers with dedicated power generation to reduce grid strain and accelerate deployment of energy infrastructure.
Alphabet agreed to acquire Intersect Power for $4.75 billion, excluding debt, to expand power and data center capacity, with the deal expected to close in the first half of next year.
