Google acquires Intersect Power for $4.75bn

Google has acquired San Francisco, US-based Intersect Power for $4.75bn successful a woody that includes the presumption of debt, according to statements from Greenbelt Capital Partners and planetary alternate plus absorption steadfast TPG.

The transaction, which was announced successful December 2025, involves the acquisition of Intersect’s integer powerfulness concern and the concurrent spin-out of its grid-tied cleanable vigor assets into a caller company, IPX Power.

The full endeavor worth of these combined transactions stands astatine $12bn.

Following the completion of this sale, IPX Power has launched arsenic an autarkic powerfulness producer.

The caller institution comprises circumstantial assets formerly owned by Intersect and has bulk backing from TPG’s clime investing platform, TPG Rise Climate, on with enactment from Greenbelt Capital Partners and Climate Adaptive Infrastructure.

IPX Power begins operations with a portfolio of 4.4GW of star photovoltaic capableness and 8.8 gigawatt-hours (GWh) of artillery retention either nether operation oregon already operational successful California and Texas.

The institution reports it is besides processing further projects done a multi-gigawatt pipeline crossed some states.

Customers see utilities, assemblage prime aggregators, firm buyers and vigor work providers.

Google’s acquisition follows a concern it formed with Intersect Power and TPG successful December 2024 to nexus information centre vigor request with caller cleanable procreation and retention resources. After 1 year, Google moved to get each of Intersect’s integer powerfulness assets.

David Brochu leads IPX Power arsenic CEO, with Nick Pape serving arsenic main fiscal officer, Todd Johansen arsenic main commercialized serviceman and John Martinez arsenic main operating officer.

The recently established institution continues to ain and run large-scale renewable vigor resources aimed astatine gathering expanding request for cleanable energy successful large US markets.

Greenbelt Capital managing spouse Glenn Jacobson said: “Today marks an important milestone for Intersect, IPX and the broader cleanable vigor ecosystem. We are highly arrogant of the starring relation Greenbelt has played successful helping physique and standard the Intersect level since its inception successful 2020.

“The palmy closing with Google underscores the spot and strategical worth of the Intersect franchise and the dynamic enactment of its CEO, Sheldon Kimber.”

TPG Rise Climate holds bulk ownership successful the company.

"Google acquires Intersect Power for $4.75bn" was primitively created and published by Power Technology, a GlobalData owned brand.

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