Téa Spellacy

Project Manager

TPG–Intersect Power Clean Energy Partnership - Renewable Energy Project
TPG–Intersect Power Clean Energy Partnership

TPG–Intersect Power Clean Energy Partnership

In December 2024, TPG Rise Climate and Google announced a strategic partnership with Intersect Power to invest $20 billion in renewable energy infrastructure by 2030. This initiative aims to co-locate data centers with clean energy sources, addressing the growing power demands of AI and cloud computing while reducing carbon emissions.

Deal Overview

Transaction Details

  • Investment Value: $20 billion by 2030
  • Partners: TPG Rise Climate, Google, and Intersect Power
  • Focus: Renewable energy infrastructure for data centers
  • Timeline: Long-term partnership through 2030

Strategic Significance

  • Integration of renewable energy with data center development
  • Support for AI and cloud computing power demands
  • Reduction of carbon emissions in tech infrastructure
  • Creation of sustainable energy solutions for digital growth

My Role: Project Management & Technical Due Diligence

As a member of the project management team supporting TPG's investment in Intersect Power, I was responsible for comprehensive analysis and evaluation of the partnership opportunity.

Key Responsibilities

Comprehensive Platform Analysis

  • Evaluated Intersect Power's entire asset portfolio
  • Assessed solar, wind, and battery storage projects
  • Analyzed project development pipeline
  • Reviewed operational and planned assets

Contractual Review

  • Assessed power purchase agreements (PPAs)
  • Reviewed interconnection agreements
  • Evaluated equipment supply contracts
  • Identified potential risks and opportunities

Cost Benchmarking

  • Analyzed capital expenditures across projects
  • Evaluated operational expenditures
  • Ensured competitive positioning
  • Validated financial viability

Operational Performance Assessment

  • Reviewed historical performance data
  • Validated asset reliability
  • Assessed operational efficiency
  • Evaluated maintenance strategies

Key Achievements

Technical Excellence

  • Cross-Functional Coordination: Collaborated with subject matter experts across multiple disciplines
  • Holistic Evaluation: Delivered comprehensive platform assessment
  • Risk Identification: Identified and addressed potential challenges
  • Quality Assurance: Maintained high standards in all analyses

Project Management

  • Adaptive Management: Navigated shifting timelines and evolving scopes
  • Timely Delivery: Ensured critical analyses were completed on schedule
  • Stakeholder Management: Maintained clear communication with all parties
  • Resource Coordination: Effectively managed team resources

Client Support

  • Post-Transaction Assistance: Addressed follow-up inquiries
  • Knowledge Transfer: Facilitated smooth transition
  • Relationship Building: Established strong client rapport
  • Value Delivery: Ensured client satisfaction

Lessons Learned

  1. Integration Challenges: Successfully managing the intersection of energy and technology requires specialized expertise
  2. Scale Management: Large-scale partnerships require careful coordination and clear communication
  3. Technical Complexity: Comprehensive due diligence is essential for complex infrastructure projects
  4. Partnership Dynamics: Understanding and managing multiple stakeholder interests is crucial

Looking Forward

This partnership demonstrates:

  • The growing importance of sustainable energy in tech infrastructure
  • The value of strategic partnerships in advancing clean energy
  • The need for comprehensive technical due diligence in large-scale investments
  • The potential for innovation at the intersection of energy and technology

Further Reading