The Week in Deals
1 deal| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Dec 22 | Corporate M&A | Solar+BESS | TPG Rise Climate (majority stake) | Alphabet (Google) | $4.75B | Multi-state | Announced | Alphabet announces acquisition of Intersect Power from TPG Rise Climate for $4.75B. Builds on Dec 2024 strategic partnership. Intersect has 2.2 GW solar + 2.4 GWh storage operating/construction plus large development pipeline. Landmark Big Tech energy acquisition. Note: this deal is also tracked as ma-001 in the 2026 database (completion date Jan 2026). |
Change of Control
2 movesSheldon Kimber joined as CEO and Founder (retained post-acquisition by Alphabet) at Intersect Power
Alphabet announced the $4.75B acquisition of Intersect Power, with Kimber retained as CEO. Intersect's grid-tied clean energy assets were spun out into a new entity (IPX Power). Total enterprise value across transactions: $12B. Kimber was honored by Goldman Sachs as one of the Most Exceptional Entrepreneurs of 2024.
Dylan Marx promoted to Chief Operating Officer at Canadian Solar (from President, Operations and Maintenance, Recurrent Energy)
Marx was named COO after 13 years at Canadian Solar/Recurrent Energy. Part of broader succession planning as Dr. Shawn Qu narrows his role to CEO, focusing on strategy and expansion.
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