Google owners buy Intersect Power, a developer of data centers and clean energy facilities

Alphabet Holding announced its intention to acquire Intersect Power, a company engaged in the development of data centers and renewable energy facilities. The cost of the transaction is estimated at $ 4.75 billion in cash, taking into account debt obligations.

The planned acquisition will allow Google’s owners to develop their energy infrastructure in parallel with the construction of new data centers, reducing dependence on regional power grids. The issue of sustainable access to electricity has become one of the key ones for companies working with artificial intelligence technologies and large computing capacities in recent years.

Alphabet already owned a minority stake in Intersect Power after an investment round worth $ 800 million, which took place in December 2024 and was led by Google together with the TPG Rise Climate fund. As part of this partnership, the parties previously announced plans to invest up to $20 billion in project development by 2030.

The upcoming agreement applies to Intersect Power’s promising projects, but does not affect the company’s already operating facilities. These assets will be purchased by other investors and will continue to operate under separate management. According to preliminary plans, new data centers located next to wind, solar and battery power plants should begin operating in late 2026.

The infrastructure being developed by Intersect Power also provides for the possibility of placing equipment from third-party companies. The transaction is expected to close in the first half of 2026.