Overview
- Alphabet will pay $4.75 billion in cash and assume Intersect’s debt, expanding access to controllable power for new data centers.
- The transaction is expected to close in the first half of 2026, subject to customary approvals and closing conditions.
- Intersect will remain a separate operating unit, with existing operating assets in Texas and operating and in-development assets in California excluded from the deal and continuing under current investors.
- Intersect brings roughly $15 billion in energy assets in operation or under construction and projects totaling about 10.8 gigawatts expected online or in development by 2028.
- Google plans to integrate Intersect’s co-located energy and data center developments, including a site in Haskell County, Texas, and CEO Sheldon Kimber will stay on to lead the unit.