Overview
- Alphabet announced a definitive agreement to buy Intersect for $4.75 billion in cash plus the assumption of debt.
- The acquisition includes Intersect’s team and multiple gigawatts of energy and data center projects, including a co‑located site under construction in Haskell County, Texas.
- Intersect will continue operating under its own brand and partner closely with Google’s technical infrastructure organization.
- Intersect’s operating assets in Texas and its operating and in‑development assets in California are excluded and will remain with investors TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners.
- Closing is subject to customary approvals with completion expected in the first half of 2026, supporting Google’s plan to manage energy costs and accelerate capacity for AI and cloud services.