The deal will see the trio support new gigawatt-scale data centre sites across the US, with Intersect tasked with building clean energy assets like its solar photovoltaics (PV) solutions.
Google will act as an anchor tenant of new co-located sites powered by Intersect’s clean energy as well as its own clean power solutions to bring new capacity to local grids.
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Google’s TPG deal comes as the hyperscaler is scaling its digital infrastructure to support its AI efforts, with projects including a $1 billion site in Thailand, two new facilities in Dorchester County, South Carolina, and an $850 million data centre in the Uruguayan city of Canelones
“To realise AI’s potential, the growth in electricity demand must be met with new, clean power sources,” said Amanda Peterson Corio, global head of data centre energy at Google. “We’re bringing this opportunity to life by combining pioneers at the intersection of data centres and clean energy development to synchronise load growth with new power generation in a novel way. We hope to replicate this model in multiple markets across the US and around the world.”
To fuel its scaling data centre projects, Google has turned to Intersect Power, which provides low-carbon solutions, such as solar PVs and battery storage systems.
Beyond the agreement, Google and TPG were among the investors that backed Intersect in its $800 million funding round. Other backers included Climate Adaptive Infrastructure and Greenbelt Capital Partners.
The ambitious clean energy firm is targeting $20 billion in renewable power infrastructure investments by the end of the decade — and has already begun financing the first co-located clean energy project in its partnership with Google and TPG, which is set to be fully completed by 2027.
“This partnership is an evolution of the way hyperscalers and power providers have previously worked together. We can and are developing innovative solutions to expand data centre capacity while reducing the strain on the grid,” said Sheldon Kimber, CEO and founder of Intersect Power. “Deep, collaborative partnerships combined with creative problem-solving are the only way that we can meet the explosion of AI growth, as well as society’s accelerating electricity demand.”
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