Alphabet, the parent company of Google, entered into a definitive agreement to acquire Intersect, a data center and energy infrastructure solutions provider, for $4.75 billion in cash, plus the assumption of debt.
The acquisition will allow more data center and generation capacity to come online faster. Google already owns a minority stake in Intersect from a previously announced funding round.
The transaction includes Intersect’s experienced team, along with multiple gigawatts of energy and data center projects currently in development or under construction, as part of its established partnership with Google. Following the acquisition, Intersect will continue to operate independently under its existing brand and will be led by founder and CEO Sheldon Kimber.
It will partner with Google’s technical infrastructure team, continuing work on in-development and new, joint projects, which include the company’s first announced co-located data center and power site, under construction in Haskell County, Texas.
Intersect’s current operating assets in Texas, as well as its operating and in-development assets in California, are excluded from the transaction. These assets will remain part of a separate, independent business backed by existing investors TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners.
The deal is subject to customary closing conditions and is anticipated to close in the 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 US innovation and leadership. We look forward to welcoming Sheldon and the Intersect team,” said Sundar Pichai, CEO of Google and Alphabet.
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, in 9M 2025, 76 solar M&A transactions were executed compared to 62 in 9M 2024.
In December, Otovo, a home energy service provider in the U.S. and Europe, entered into a definitive agreement to acquire select assets of Soly Holding, a Netherlands-based residential solar company with operations across the Netherlands, Belgium, Germany, Austria, Italy, and the U.K.
