Intersect Power platform — digital power / data center + clean energy infrastructure (10.8 GW portfolio at close)
Google closes $4.75B acquisition of Intersect Power (announced Dec 22, 2025; see ma-2025-021). Intersect continues operating under its brand as a Google subsidiary, led by CEO Sheldon Kimber. Concurrent with closing, Greenbelt Capital Partners, TPG Rise Climate, and CAI launch IPX Power as an independent IPP with 4.4 GW solar + 8.8 GWh BESS carved out from Intersect's Texas and California operating assets; IPX CEO: David L. Brochu. Combined sale + IPX carve-out represents $12B total enterprise value.
$4.75B
Deal Value
10,800MW
Capacity
Hybrid
Technology
Multi-state
Location
Deal Details
- Deal Type
- Platform Acquisition (Closing)
- Seller / Sponsor
- Greenbelt Capital Partners; TPG Rise Climate; Climate Adaptive Infrastructure (CAI)
- Buyer / Financier
- Alphabet (Google)
- Deal Value
- $4.75B cash + assumed debt; total enterprise value $12B
- Stage
- Mixed (Operating + Construction + Development)
- ISO/RTO
- ERCOT, CAISO
Service Providers
Advisory & Legal
- Buyer Counsel
- Cleary Gottlieb
- Seller Counsel
- Orrick
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