Alphabet, the parent company of Google, has completed a US$4.75 billion acquisition of Intersect, a clean energy and data center infrastructure developer, signaling a major strategic push to secure renewable energy for its rapidly expanding artificial intelligence (AI) data centers. The deal includes the assumption of Intersect’s debt and supports Alphabet’s broader objective of reducing emissions, securing long term energy supply, and reducing pressure on traditional power grids.
The acquisition brings Intersect’s energy projects in development or under construction—projected to reach around 10.8 gigawatts of capacity by 2028, equivalent to more than 20 times the output of the Hoover Dam—into Alphabet’s broader infrastructure ecosystem. Alphabet’s move also builds on prior partnerships and investments with energy firms like NextEra Energy and aims to colocate renewable power generation with AI data centers, improving energy reliability and efficiency. Some existing operating assets in Texas and California remain outside the acquisition and will continue under independent control.