Energy Storage News•about 1 month ago
Google completes US$4.75 billion Intersect Power acquisition, initial focus on California & Texas solar-plus-storage
Key Takeaway
Google's $4.75 billion acquisition of Intersect Power highlights the increasing trend of large power consumers directly investing in and developing dedicated renewable energy and storage assets to meet their growing demand in critical markets.
AI Summary
- •Google acquired renewable developer Intersect Power for US$4.75 billion to directly power its US data center expansions.
- •The acquisition's initial focus is on developing solar-plus-storage projects in California (CAISO) and Texas (ERCOT).
- •This move signals a significant vertical integration by a major power consumer, securing dedicated renewable generation and storage capacity.
Topics
caisodatacenterercotfinancingm&apolicyppasolarstorage