Google's parent company Alphabet has spent $4.75 billion to acquire clean energy company Intersect

According to Bloomberg, Google's parent company Alphabet announced the acquisition of clean energy developer Intersect Power for $4.75 billion in cash and debt, to expand its AI data center power resources.

This marks the first time a major tech company has directly acquired a renewable energy developer, signaling Google's accelerated efforts to establish clean energy self-sufficiency. Intersect will operate independently in terms of branding and team, continuing to be led by CEO Sheldon Kimber.