Intersect Power strategic partnership — $20B investment in co-located data centers + clean energy (solar, storage)
Google and TPG Rise Climate form landmark partnership with Intersect Power to co-locate data centers with clean energy. $800M equity raise plus targeted $20B in renewable infrastructure by end of decade. Intersect has 2.2 GW solar + 2.4 GWh storage operating/construction. Alphabet later acquired Intersect for $4.75B in Dec 2025.
$800M
Deal Value
2,200MW
Capacity
2,400MWh
Storage
Solar + Storage
Technology
Multi-state
Location
Deal Details
- Deal Type
- Corporate M&A
- Seller / Sponsor
- Intersect Power
- Buyer / Financier
- Google, TPG Rise Climate
- Deal Value
- $800M equity raise + $20B targeted investment
- Stage
- Mixed (Operating + Development)
- ISO/RTO
- CAISO, ERCOT
- Source
- Intersect Power
Capital Structure
$800M
Total transaction value
Tranches
- Equity · TPG Rise Climate, Google, Climate Adaptive Infrastructure, Greenbelt Capital Partners
- $800M
Service Providers
Advisory & Legal
- Financial Advisor
- Morgan Stanley
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Leadership at the Counterparties
Recent executive moves at the firms named in this deal.
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