Overview
- Alphabet will pay $4.75 billion in cash and assume debt to buy Intersect, strengthening energy access for rapidly expanding AI and cloud operations.
- The deal includes Intersect’s team and multiple gigawatts of energy and data-center projects in development or under construction, with a co-located site underway in Haskell County, Texas.
- Intersect will continue operating under its own brand in close collaboration with Google’s technical infrastructure group.
- Intersect’s operating assets in Texas, plus operating and in‑development assets in California, are excluded and will remain with TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners.
- The companies expect closing in the first half of 2026, and they plan to explore advanced geothermal, long‑duration storage, and gas with carbon capture to expand reliable power supply.