Utility Dive•9 days ago
Alphabet acquires clean energy developer Intersect for $4.75B
Key Takeaway
Alphabet's direct acquisition of a clean energy developer signals a significant shift in corporate decarbonization strategies, moving towards direct ownership and development to secure renewable supply.
AI Summary
- •Alphabet (Google's parent) acquired clean energy developer Intersect for $4.75 billion, marking a significant investment in direct renewable asset ownership.
- •This acquisition represents a new, more direct tactic in Alphabet's decarbonization strategy, moving beyond traditional PPA structures to secure clean energy supply.
- •For developers, this signals a major tech company's deeper entry into direct clean energy asset ownership, potentially increasing competition or creating new partnership opportunities.
- •For large power consumers, it demonstrates a trend towards vertical integration in securing reliable, decarbonized power for their operations.
Topics
emissionsfinancingm&apolicyppasolarstoragewind