Google Acquires Intersect Power Specializing in Large Solar Plants, BESS

Written by Jesse Broehl, Assistant Editor-in-Chief for IIR News (Sugar Land, Texas)

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Summary

Alphabet Incorporated has acquired Intersect Power. The move is symbolic of tech companies' needs to have more options and control securing electricity supply for their data centers when throughout the U.S. demand is outpacing new power generation options.

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Intersect Power is Acquired for $4.75 Billion

Google parent Alphabet Incorporated (Mountain View, California) has announced it will acquire Intersect Power (San Francisco), an independent power producer (IPP), focused on large, utility-scale, solar photovoltaic (PV) power plants co-located with data center infrastructure.

Alphabet agreed to pay $4.75 billion in cash in addition to the assumption of debt.

IIR Energy's Breaking Energy News (BEN) reported this development on December 31.

The acquisition is symbolic of tech companies' needs to have more options and control securing electricity supply for their data centers when throughout the U.S. demand is outpacing new power generation options.

Intersect Brings Gigawatts of Solar and BESS Online

Included in the transaction are Intersect's team and multiple gigawatts of energy and data center projects in development and under construction. Intersect's power plant focus is on solar, wind, and battery energy storage system (BESS) capacity--in most cases as co-located arrangements.

Industrial Info's Global Market Intelligence (GMI) is tracking approximately 1,590 megawatts (MW) of fully commissioned power capacity in the U.S. under Intersect's ownership, split between 1,305 MW of solar and 285 MW of BESS. Subscribers can view a list of detailed power unit profiles.

Substantially more capacity is in pre-commissioned status; 1,451 MW of BESS (under construction), 2,874 MW of wind, and 6,247 MW of solar. Of that, 1,094 MW of wind and solar capacity is under construction.

Click on the image at right for a graphic showing Intersect Power's pre-commissioned and commission power capacities.

Notable Operational Intersect Power Plants

• The 320-MW Lumina I and 480-MW Lumina II PV Solar Plant in Snyder, Texas, both phases fully commissioned in Jan. 2024.
• The Oberon Renewable Energy Center in Desert Center, California, with 375 MW of solar, 250 MW of BESS, and four substations.
• Radian PV Solar Farm, 415-MW solar PV, located in Brookesmith, Texas.

Notable Under-Construction Intersect Power Plants

• The 650-MW (2,600 MWh) Easley Renewable Energy Project, a BESS project co-located with the company's Oberon solar PV plant.
• The Quantum PV Solar Plant / BESS, with 374 MW of solar and 320 MW of BESS, located in Haskell, Texas.

GMI subscribers can view a list of all Intersect Power generation unit profiles tracked by Industrial Info

Power Generation Assets Developed Alongside Data Centers

In the December 22 announcement, Alphabet/Google said Intersect's operations will remain independent, but that the acquisition will help bring more data center and generation capacity online faster.

Intersect's operations will remain under the Intersect brand. It will partner closely with Google's technical infrastructure team, continuing work on in-development, and new, joint projects. This includes the companies' first announced co-located data center and power site, under construction in Haskell County, Texas.

"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, chief executive officer of Google and Alphabet.

Key Takeaways

• Alphabet Incorporated has acquired Intersect Power.
• The move is symbolic of tech companies' needs to have more options and control securing electricity supply for their data centers.
• Included in the transaction are Intersect's team and multiple gigawatts of energy and data center projects.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).