Alphabet has finalized its $4.75 billion acquisition of wind and solar developer Intersect. This strategic move secures a dedicated power supply for the company’s expanding data center network. The transaction, first announced in late December, makes Google the only major tech giant to own its own power company.
The acquisition addresses the escalating energy demands of artificial intelligence development. The deal spins off Intersect’s grid-tied power business into a new independent entity called IPX Power. Intersect will continue to operate as a separate unit under its current CEO.
The developer will focus on building co-located Google data centers and power sites. The company expects the first of these integrated facilities to begin operations in Texas this year. This acquisition emphasizes the critical role of energy resources in the competition for AI dominance.