From News Desk
Alphabet, Google’s parent company, said it would acquire US clean energy developer Intersect for USD 4.75 billion in cash, plus assumed debt, in a move designed to secure the power capacity needed to support rapidly expanding datacentre operations. The transaction places Alphabet among a growing group of technology companies investing directly in generation and storage assets as generative AI drives unprecedented electricity demand.
Across the United States, utilities and grid operators are struggling to keep pace with the load growth associated with hyperscale datacentres. Generative AI training and inference workloads are energy intensive, continuous and geographically concentrated. For technology companies racing to scale AI capabilities, access to reliable power is increasingly a strategic constraint rather than a background operating cost.
Alphabet said the acquisition would bring Intersect’s energy and datacentre projects that are either in development or under construction into its orbit. Intersect currently has around USD 15 billion of assets operating or under construction. By 2028, the company expects projects representing roughly 10.8 gigawatts of power to be online or in development, a level of capacity that dwarfs most single-source power assets in the US and exceeds 20 times the electricity produced by the Hoover Dam.
The company said Intersect would also explore a range of emerging technologies to increase and diversify energy supply while supporting Google’s US datacentre investments.
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