Alphabet, the parent company of Google, has announced the acquisition of U.S.-based renewable energy developer Intersect for $4.75 billion (€4.04 bn) in cash, plus the assumption of debt.

Google already held a minority stake in Intersect and will now bring the company fully into its renewable energy strategy.

The acquisition includes Intersect’s team and multiple gigawatts of energy and data centre projects under development or construction, supporting Google’s Cloud data centre operations. Intersect will also explore emerging technologies to increase and diversify energy supply while maintaining its brand and operational independence.

A key component of the partnership includes a co-located data centre and power site under construction in Haskell County, Texas. Existing operating assets in Texas and California remain independent and will continue under the oversight of existing investors, including TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners.

“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 U.S. innovation and leadership,” said Sundar Pichai, CEO of Google and Alphabet.

Sheldon Kimber, founder and CEO of Intersect, added, “Intersect has always been focused on bringing innovation to the industry and we look forward to accelerating at scale as part of Google. Modern infrastructure is the linchpin of American competitiveness in AI. We share Google’s conviction that energy innovation and community investment are the pillars of what must come next.”

The acquisition strengthens Google’s renewable energy footprint, providing scalable infrastructure to support rapid data centre expansion while promoting solar and storage projects across the United States. The transaction is expected to close in the first half of 2026, subject to customary conditions.

Learn how Google is scaling renewable energy to power next-generation data centres in the full story.