Alphabet, a US-based technology company, has announced an agreement to acquire Intersect, a US–based energy and data center infrastructure company. The acquisition has been valued at $4.75 billion in cash, with the assumption of debt. The transaction includes Intersect’s team and multiple gigawatts of energy and data center projects under development or construction. Intersect will continue operating as a separate business under its existing brand and will be led by Sheldon Kimber. Intersect’s existing operating assets in Texas and operating and in-development assets in California are excluded from the acquisition. Excluded assets continue to be supported by TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners. Google previously held a minority stake in Intersect. The transaction is subject to customary closing conditions and is expected to close in the first half of 2026. Previously, Google has committed to using Intersect Power’s clean energy for new data centers by 2027.