Google to Acquire Intersect Power for $4.74B

In a $4.74 billion deal, Google will acquire data center and energy infrastructure developer Intersect Power.

Through the acquisition, Google will buy Intersect’s entire in-development portfolio, which includes gigawatts worth of projects.

However, Intersect will remain a separate entity. Intersect’s existing operating assets in Texas, and its operating and in-development assets in California, are not part of the deal.

Google and Intersect first teamed up last year to develop colocated renewable power and storage at new data centers sites, including a site currently being developed in Haskell County, Texas.