Google has announced it is backing clean energy developer,Intersect Power, along with TPG Rise Climate and other investors. The search engine giant is backing Intersect Power in an over $800 million funding round. The support for Intersect Power is a part of its strategy to enhance its data centre capacity to meet the rising demand for cloud services driven by artifical intelligence.

Also read: Kairos Power and Google Partner to Deploy Advanced Nuclear Power Projects for Clean Energy Goals

A Focus on Clean Energy for Data Centers

The collaboration aims to develop industrial parks that combine large-scale data center capacity with purpose-built clean energy plants. Google intends to ease power grid constraints while reducing project delivery timelines by co-locating data centers with carbon-free energy sources.

This approach will aid the company in meeting the growing energy needs of new technologies like Generative AI.

Also read: Google Partners with energyRe for 12-Year Renewable Energy Agreement

Meeting the Growing Demand for Power

As artificial intelligence technologies continue to rise, the difficulty of electrical systems becomes increasingly difficult. They find it hard to keep pace with the rapidly increasing power needs. The growing demand threatens to derail the country’s already vulnerable power grid.

Google is partnering with Intersect Power and TPG Rise Climate to ensure reliable and clean energy for its data centers.

Google’s Role in Clean Energy and Data Centers

As per the deal, Google will be a key customer for the clean energy produced by Intersect Power’s facilities. The Alphabet Inc. corporation intends to establish new data centres that will immediately utilise the clean energy. The initial phase of the project is set to be up in 2026, with total completion expected i

Intersect Power’s Sustainability Commitment

Founded in 2016, Intersect Power specializes in scalable low-carbon energy solutions. As a portfolio company of TPG Rise Climate, the clean energy company is helping transition industries to more sustainable energy sources.

This partnership further supports the climate goals of both Google and TPG Rise Climate.

The European Investment Bank (EIB) Group has announced a €3 billion financing package to support agriculture, forestry, and fisheries across Europe. EIB President Nadia Calviño announced that the initiative will unlock €8.4 billion in bioeconomy investments through leveraged financial contributions.

The EIB’s largest financing package will extend over three years, with initial loans expected by mid-2025. It mainly focuses on small and medium-sized enterprises (SMEs) and mid-cap companies in agriculture.

Much of the funding focuses on supporting young and new farmers to overcome challenges in accessing traditional financing. Female farmers will also receive specific support to reduce gender gaps in the sector. Furthermore, the package emphasizes investments in green projects, aligning with the European Union’s sustainability objectives.

Also read: EIB Approves €250 Million Loan for Infrastructure Projects in Madrid

Boosting Sustainable Farming and Resilience

The funding supports investments in soil health, water management, climate resilience, digital tools, young farmers, and EU gender balance goals.

Christophe Hansen Commissioner for Agriculture and Food said, “I welcome the strong commitment of EIB in favour of the EU farming community, especially for young farmers and women farmers. Bridging the financing gap in the sector is vital, and with the EIB Group’s support we are giving agriculture the tools to thrive and grow.”

He added, “We will closely work with the EIB to make sure that this financing opportunity is taken up on the ground and delivers results. Together, we are securing a sustainable future for the sector.”

The package ensures favourable loan terms by incorporating interest rate subsidies and capital grants supported by EU and national budgets. The EIB will offer advisory support through the Green Gateway program and Green Eligibility Checker, assessing green projects’ impact.

Also read: EIB Commits $80 Million to African Infrastructure Fund to Drive Sustainable Development

Strengthening Climate Adaptation and Insurance

The EIB Group’s financing initiative, part of the EU’s “Strategic Dialogue on the Future of EU Agriculture,” supports innovation, agritech, and sustainable farming. The plan offers loans for technology, agritech private equity, guarantee schemes, expanded farmer lending, and investments in rural infrastructure.