Google has closed its acquisition of Intersect Power.
In late December, the tech giant announced that it planned to buy US-focused Intersect for $4.75 billion, plus the assumption of debt. Intersect builds power and storage infrastructure for data centers.
Google has picked up the company's in-development and under-construction assets, as well as its digital power assets. Interesect's grid-tied power business has been spun off as IPX Power.
TPG, Climate Adaptive Infrastructure (CAI), Greenbelt Capital Partners, and Google are investors in IPX, which operates a portfolio of 4.4GW of solar PV and 8.8GWh of battery storage in construction or operation.
"Google's acquisition of Intersect is now closed," Intersect's head of data centers, Chris Klem, said. "Intersect is officially a subsidiary. This is ground zero for anyone who wants to have the most impact building the infrastructure defining the next era."
In a job listing for a data center load management & optimization manager, Intersect said that its "operations will remain separate from Alphabet and Google under the Intersect brand."
The company filed to develop a data center in Texas in February, and is behind a $3bn data center project called Meitner in Pampa, Texas.
Comments