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September 01, 2020 10:18am
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Intersect Power raises $750m to develop renewable energy portfolio

Intersect Power has announced a $750 million growth equity investment to accelerate the buildout of renewable energy and energy storage projects.
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The investment supports Intersect Power's focus on shorter tenor offtake contracts combined with large-scale battery storage and new products, like green hydrogen.

TPG Rise Climate led the investment with participation from existing investors, Climate Adaptive Infrastructure, and Trilantic Energy Partners North America.

Intersect Power's project portfolio

As part of the investment, Beckley, Mandel, and Maryanne Hancock, CEO of TPG’s Y Analytics, will represent TPG Rise Climate on Intersect Power’s board of directors, alongside Bill Green of CAI and Glenn Jacobson of Greenbelt Capital Partners.

Intersect Power said the investment "reinforces its durability" amid supply chain constraints, increasing capital costs, and regulatory uncertainties. Intersect Power CEO Sheldon Kimber appeared on a recent episode of the Factor This! podcast to discuss the impacts of the Auxin Solar tariff petition on the clean energy sector.

Subscribe today to the all-new Factor This! podcast from Renewable Energy World. This podcast is designed specifically for the solar industry and is available wherever you get your podcasts.

Listen to the latest episode, on shaping the grid of the future to support renewable energy, featuring Jim Walsh, GE's head of grid software. This special edition of the Factor This! podcast was recorded live from DISTRIBUTECH and POWERGEN International in Dallas last May.

Intersect Power's clean energy portfolio features an emphasis on green hydrogen production at nearly 1 GW.

The company has an 8.5+ GWp and 8+ GWh mid to late-stage pipeline that includes a base portfolio of 2.2 GWp of solar PV and 1.4 GWh of co-located storage that will be in operation by 2023. 

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