Google agreed to acquire Intersect for $4.75 billion in cash, plus the assumption of debt, strengthening its strategy to pair new U.S. energy supply directly with expanding data center demand. Alphabet announced the transaction, but Google will lead integration and execution, building on an existing partnership in which Google already held a minority stake following an earlier Intersect funding round.
The acquisition brings Intersect’s development organization and multiple gigawatts of energy and data center projects—either under construction or in advanced development—into closer alignment with Google’s U.S. infrastructure roadmap. Google said the deal will allow new generation capacity and data center sites to come online faster, while supporting Cloud growth and AI-driven workloads. Intersect will also continue work on emerging supply technologies designed to diversify power sources for hyperscale campuses.
Intersect will remain a separate operating business under the Intersect brand and continue to be led by founder and CEO Sheldon Kimber. The company will work closely with Google’s technical infrastructure team on existing and new joint developments, including the companies’ first disclosed co-located data center and power site, now under construction in Haskell County, Texas. Certain Intersect operating assets in Texas and California are excluded from the transaction and will remain with an independent entity backed by TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners. The deal is expected to close in the first half of 2026, subject to customary conditions.
Intersect has also established deep partnerships across the energy technology ecosystem, most notably with Tesla. According to Intersect, it has contracted to purchase 17.7 GWh of Tesla Megapack battery systems, positioning the company among the largest grid-scale storage customers in the U.S. These deployments enable firm capacity and load-shaping for data center campuses by shifting energy across time, mitigating intermittency from renewable generation, and reducing dependence on constrained transmission—capabilities that align closely with Google’s co-located power and compute strategy.
- Transaction value: $4.75 billion in cash, plus assumption of debt
- Buyer/operator: Google, following Alphabet announcement
- Structure: Intersect remains a separate business under existing leadership
- Assets included: Multi-gigawatt energy and data center development pipeline tied to Google
- Assets excluded: Select operating and in-development assets in Texas and California
- Flagship project: Co-located data center and power site in Haskell County, Texas
- Expected close: First half of 2026
“Intersect will help us expand capacity, operate more nimbly in building new power generation in lockstep with new data center load, and reimagine energy solutions to drive U.S. innovation and leadership,” said Sundar Pichai, CEO of Google and Alphabet.
🌐 Analysis
Intersect has emerged as a specialized platform for pairing large-scale energy development with hyperscale data center demand, attracting strategic capital from investors including TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners. Google’s earlier minority investment provided early exposure to Intersect’s co-located power model, which targets one of the industry’s most persistent bottlenecks: interconnection timelines and the availability of firm capacity for new AI campuses. By moving from minority ownership to full acquisition, Google internalizes a development engine at a time when access to timely, dispatchable power increasingly determines where and how fast AI infrastructure can scale.
Intersect’s contracted 17.7 GWh Megapack footprint underscores how battery storage is becoming integral—not optional—to data center en
| Project | Location | Capacity (Generation + Storage) | Status | Description |
|---|---|---|---|---|
| Quantum | Haskell County, TX | 840 MW solar + 1.3 GWh BESS | Under construction | Large utility-scale solar and battery project supporting co-located power and data center development. |
| Meitner | Gray & Roberts Counties, TX | 700 MW solar + 500 MW wind | Under construction | Hybrid renewable generation project designed to diversify regional power supply. |
| Lumina | Scurry County, TX | 828 MW solar + 640 MWh BESS | Operating | Operational solar-plus-storage facility delivering flexible clean energy capacity. |
| Oberon | Riverside County, CA | 684 MW solar + 1 GWh BESS | Operating | Large-scale California solar project paired with significant battery storage. |
| Athos III | Riverside County, CA | 310 MW solar + 448 MWh BESS | Operating | Solar and storage facility supporting grid reliability in Southern California. |
| Radian | Brown County, TX | 415 MW solar + 320 MWh BESS | Operating | Grid-connected renewable energy project combining solar generation with storage. |
| Easley | Riverside County, CA | 406 MW solar + 1.4 GWh BESS | Under construction | Solar and battery project expanding firm clean energy capacity in California. |
| Aramis | Alameda County, CA | 105 MW solar + 400 MWh BESS | Under construction | Compact solar-plus-storage development supporting regional load growth. |
| Darden |
