Independent Green Energy Producers

IPX Power has launched as an independent power producer following the acquisition of Intersect Power by Google. The new company was formed through the spin out of Intersect’s grid tied clean energy assets and is backed by TPG Rise Climate, Climate Adaptive Infrastructure, and Greenbelt Capital Partners. According to multiple reports, IPX Power begins operations with a portfolio that includes 4.4 GW of solar photovoltaic capacity and 8.8 GWh of battery storage either operating or under construction. These assets serve utilities and large customers across California and Texas and position the company as a major participant in large scale clean energy development.

The launch follows Google’s 4.75 billion dollar acquisition of Intersect Power, which included the company’s digital power business while separating its grid tied infrastructure into the newly established IPX Power. The combined transactions carry an enterprise value of approximately 12 billion dollars and reflect continued investment in renewable energy and storage to support data center growth and grid reliability. IPX Power’s portfolio includes one of the world’s largest battery storage systems currently under construction, underscoring its role in expanding long duration storage and utility scale solar capacity in the United States.

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