Latest news with #IntersectPower
Business Wire
21-05-2025
- Business
- Business Wire
Intersect Wins Energy Risk Awards Deal of the Year for $837 Million Battery Storage Transaction
SAN FRANCISCO--(BUSINESS WIRE)--Intersect Power, LLC ('Intersect') has been awarded the Energy Risk Awards' Deal of the Year. The award recognizes Intersect's 2024 Texas battery energy storage systems (BESS) project financing totaling $837 million. Representing one of the largest U.S. battery storage deals to date, the funds supported the construction and operation of 1 GWh of three standalone BESS. 'We're proud to be recognized by the Energy Risk Awards for a transaction that pushed the boundaries of conventional project finance,' said Sheldon Kimber, CEO and founder of Intersect Power. "Our team structured and closed a complex deal that incorporated offtake, procurement, tax equity and debt components in less than six months, a pace that is unheard of in this industry. That level of commercial and financial ingenuity is what enables us to rapidly build co-located renewables and storage projects that unlock a fast, scalable, and cost-effective solution to fuel the growth of the industries of tomorrow, including AI data centers." The Energy Risk Awards honor excellence in global commodities markets, with the Deal of the Year recognizing a single transaction that demonstrates innovation, impact, and executional excellence. Winners are celebrated for playing a pivotal role in deals involving infrastructure investment, M&A, trade finance, structured products, or novel investment vehicles that deliver meaningful outcomes for clients and the broader market. Intersect develops, owns, and operates some of the country's largest BESS resources at its solar + storage facilities. These assets are designed to deliver consistent financial performance by capturing value during periods of market volatility and elevated prices while minimizing exposure to downturns. This stability is critical as Intersect plans to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage in 2025, representing approximately $9 billion in assets. These assets will help meet the unprecedented energy demands of AI data centers and provide additional grid-tied energy resources. Intersect is on an aggressive growth trajectory and is looking for talented professionals. For information on Intersect's current open roles, visit About Intersect Power Intersect Power is a clean energy company bringing innovative, scalable, and American-made, low-carbon solutions to its customers in global energy markets. We develop, own, and operate some of the world's largest grid-tied clean energy resources, as well as co-located facilities for large industrial loads including data centers, e-fuels, and other energy-intensive products. Intersect is laser-focused on the largest, most transformative clean energy projects that decarbonize the existing power grid and bring new loads to clean generation without the need for new transmission. Intersect is redefining the scope of the clean energy industry by enabling new pathways between clean electricity and the broader economy. We have a base portfolio of 2.2 GW of operating solar PV and 2.4 GWh of battery storage in operation or construction, representing ~$4B in capital investments. We plan to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage representing ~$9B of assets in 2025. To learn more, visit
Yahoo
21-05-2025
- Business
- Yahoo
Intersect Wins Energy Risk Awards Deal of the Year for $837 Million Battery Storage Transaction
SAN FRANCISCO, May 21, 2025--(BUSINESS WIRE)--Intersect Power, LLC ("Intersect") has been awarded the Energy Risk Awards' Deal of the Year. The award recognizes Intersect's 2024 Texas battery energy storage systems (BESS) project financing totaling $837 million. Representing one of the largest U.S. battery storage deals to date, the funds supported the construction and operation of 1 GWh of three standalone BESS. "We're proud to be recognized by the Energy Risk Awards for a transaction that pushed the boundaries of conventional project finance," said Sheldon Kimber, CEO and founder of Intersect Power. "Our team structured and closed a complex deal that incorporated offtake, procurement, tax equity and debt components in less than six months, a pace that is unheard of in this industry. That level of commercial and financial ingenuity is what enables us to rapidly build co-located renewables and storage projects that unlock a fast, scalable, and cost-effective solution to fuel the growth of the industries of tomorrow, including AI data centers." The Energy Risk Awards honor excellence in global commodities markets, with the Deal of the Year recognizing a single transaction that demonstrates innovation, impact, and executional excellence. Winners are celebrated for playing a pivotal role in deals involving infrastructure investment, M&A, trade finance, structured products, or novel investment vehicles that deliver meaningful outcomes for clients and the broader market. Intersect develops, owns, and operates some of the country's largest BESS resources at its solar + storage facilities. These assets are designed to deliver consistent financial performance by capturing value during periods of market volatility and elevated prices while minimizing exposure to downturns. This stability is critical as Intersect plans to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage in 2025, representing approximately $9 billion in assets. These assets will help meet the unprecedented energy demands of AI data centers and provide additional grid-tied energy resources. Intersect is on an aggressive growth trajectory and is looking for talented professionals. For information on Intersect's current open roles, visit About Intersect Power Intersect Power is a clean energy company bringing innovative, scalable, and American-made, low-carbon solutions to its customers in global energy markets. We develop, own, and operate some of the world's largest grid-tied clean energy resources, as well as co-located facilities for large industrial loads including data centers, e-fuels, and other energy-intensive products. Intersect is laser-focused on the largest, most transformative clean energy projects that decarbonize the existing power grid and bring new loads to clean generation without the need for new transmission. Intersect is redefining the scope of the clean energy industry by enabling new pathways between clean electricity and the broader economy. We have a base portfolio of 2.2 GW of operating solar PV and 2.4 GWh of battery storage in operation or construction, representing ~$4B in capital investments. We plan to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage representing ~$9B of assets in 2025. To learn more, visit View source version on Contacts Media Contact:Carmen LoweIntersect Power510-250-2827Press@
Fast Company
15-05-2025
- Business
- Fast Company
Whither climate tech? What is the future of the sustainability sector in a changed market environment?
Back in 2022, the climate tech sector was booming in North America and Europe. Companies in the sector raised $82bn across 3,000 deals (a 20% increase compared to 2021) and accounting for 25% of all venture capital investments. Buoyed by government legislation—including the Inflation Reduction Act (IRA) in the U.S. and a commitment from politicians at national, state, and city levels to achieve ambitious net zero goals—the sector was on an upward trajectory and, alongside AI, was at the top of the agenda for major tech conferences. A lot has changed since then, and 2022 proved to be the peak for startups and fundraising in this sector. Real or perceived pushback from the electorate on the cost of climate policies led to many politicians on both sides of the Atlantic rolling back on their carbon reduction plans. While the IRA remains in place, the new administration in the U.S. has doubled down on energy production from fossil fuels and signaled clearly to the private sector that environmental concerns are secondary to maximizing returns to shareholders. Climate tech investment experienced a significant downturn in 2024, with fundraising falling for its third consecutive year to $51 billion across 1,200 deals, and AI being the undisputed priority for all deals. Many VCs even jettisoned sustainability, thinking it had become a politically charged term with potentially negative connotations. It became a horizontal, and not a vertical, and where they focused on the application (energy, infrastructure, etc.) rather than listing it as a standalone or just bundled into 'future tech' or another bucket. So, where does the climate sector stand in 2025? Will it wither on the vine or are there green shoots that will continue to grow resiliently even in a more challenging climate? FOCUS ON THE APPLICATION On closer examination, the outlook for the sustainability sector is more mixed than it may appear. In 2024, there was a 36% decline in investment in green mobility companies while startups focused on industrial decarbonization in areas such as cement, steel, and sustainable infrastructure dropped 29%. However, green energy continues to grow with a 12% increase and several large rounds, including Intersect Power, who raised more than $800m to deliver clean energy projects for data centers and address the insatiable energy demands of data centers. Overall, while the number of deals decreased, the average value size rose by 14% to $28m. This suggests both maturity in the sector and a flight to quality now that the market environment is more challenging. Fresh, new ideas at startups may struggle to attract attention, but proven market-ready and revenue-generating companies will still be able to raise funds. Across clean energy and storage, battery technology, agrifood and regenerative agriculture, circular economy, and climate fintech, there are examples of companies that continue to scale and thrive in the U.S. It's also worth remembering that despite the rollback at the federal level, environmental protection rules remain at many state and local levels in the U.S., and many large corporates remain committed to ESG goals, so the demand for innovative solutions to help address the climate crisis remains. FIND THE FERTILE SOIL While many sustainability companies continue to thrive in the U.S., many are assessing the changes in the political and funding climates, and diversifying their efforts to include locations where their ideas may find a more receptive audience. It's too soon to provide data behind the shift in 2025, but anecdotally, I'm being told by founders in the sustainability space that they will 'follow the science' and refocus their efforts on markets where funding and a commitment from government feels more secure. Cities across Europe are aware of this trend and are working hard to lure these companies, and the innovation and jobs that come with them, away from the U.S. There is a clear value proposition. Using London and the UK as an example, fundraising in climate tech bucked the global trend and grew by 24% in 2024 to £2.4bn, according to figures from PWC. Notable examples include London-based CIRTEC (waste-to-fuel and circular chemicals) which raised €150m, and Notpla (sustainable packing) which raised $20m and launched on the NASDAQ. This has attracted the attention of U.S. VCs such as TDK Ventures, who opened a London office to tap into the innovation taking place in sustainability. Similarly, U.S. innovators, including the Denver-based energy-as-a-service unicorn Redaptive, opened a location in London in 2024 while the climate tech accelerator London GreenCity recently launched in Fulham, offering a home to world-changing scale-ups from around the world. The London Growth Plan launched in March 2025 and outlined its vision for growing London's economy for the next ten years, and frontier innovation in sustainability is a key priority. The plan states in a bold mission statement that 'by embedding climate action at the heart of our growth priorities, we can not only help tackle the climate and ecological emergency, but also create thousands of new jobs, cement London's position as a global leader in sustainability, and attract investment in the industries of the future.' The message is clear: Being good to the environment is good for business. London also remains committed to its goal of being carbon neutral net zero by 2030. The city also needs to take advantage of innovation from around the world to achieve this. 2022 may have been a peak for fundraising in the sustainability startups, but the sector has matured since then and continues to thrive in both the U.S. and in Europe. Cities that position themselves as welcoming homes for climate tech will reap the benefits of the innovation and high-value jobs it creates, while also doing what's right for the planet in addressing the climate crisis.
Business Wire
14-05-2025
- Business
- Business Wire
Mayor Lurie, Intersect Power Announce New Headquarters in Historic Downtown San Francisco Building
SAN FRANCISCO--(BUSINESS WIRE)--Mayor Daniel Lurie and clean energy company Intersect Power, LLC today announced the company's new headquarters at 140 New Montgomery in downtown San Francisco, marking another step in downtown's comeback and underscoring the city's dominance as a global innovation hub and technology leader. To continue this dominance, Mayor Lurie has been working to accelerate downtown's recovery and make San Francisco the best place to do business, including in clean energy and climate innovation. In February, he established a permanent San Francisco Police Department Hospitality Zone Task Force to keep downtown neighborhoods safe 365 days a year, while proposing new state legislation to support nightlife by creating more liquor licenses to encourage the opening of new bars and restaurants. Mayor Lurie has championed entertainment zones—recently signing legislation to designate a new one in the Castro District and advancing legislation to establish five more. In April, the mayor announced three new pop-ups downtown through the expansion of Vacant to Vibrant, a critical public-private partnership bringing new businesses to formerly vacant properties. 'Whether you're a housing developer, a startup founder, or a global company—if you've got a vision, we want you to build it here,' said Mayor Lurie. 'San Francisco is the place to be for the companies driving the future of climate innovation, and I am thrilled to welcome Intersect Power and their new headquarters to downtown San Francisco. Our administration is working every day to provide safe, clean streets downtown and create the conditions for companies big or small to thrive in our city.' Intersect's new headquarters marks yet another investment in San Francisco by a clean energy company. During last month's Climate Week, which drew more than 30,000 attendees and 1,000 organizations to San Francisco, Mayor Lurie joined It's Electric in launching the city's first curbside EV charging stations. Similarly, in April, the mayor and Redwood Materials, a lithium-ion battery recycling and production company, announced the company's new research and development facility at 100 Hooper. In March, Revel opened its first West Coast charging station in San Francisco's Mission District. The new headquarters will provide purpose-built opportunities for employees to gather and collaborate. The company will occupy 12,000 square feet, covering a full floor in the historic Pembroke property at 140 New Montgomery. The building has been a symbol of technology and connection from its construction 100 years ago as the headquarters of one of the country's first telecommunications companies to its role today as a hub for innovative businesses. 'As the digital landscape undergoes a profound transformation, driven by the immense potential of AI, San Francisco remains the undeniable epicenter of that progress,' said Sheldon Kimber, CEO and Founder of Intersect Power. 'The city continues to be a magnet for innovators and builders at the intersection of digitization, electrification and decarbonization and Intersect Power is proud to be a part of that ecosystem.' With San Francisco's robust venture capital funding—the Bay Area has 57% of the U.S. total —and rapidly expanding AI sector, Intersect is well-positioned to help the city's growing AI companies meet both their climate goals and energy needs. Intersect has grown exponentially as it moves forward in building AI data centers with a ' power-first ' approach that co-locates data centers with power generation. With a combination of wind, solar, battery storage, and flexible gas generation, the company can provide the speed, scale, reliability, and cost that data center customers require. As approximately a quarter of Intersect employees are based in the Bay Area, San Francisco has served as a main destination and meeting point for the company's quarterly co-working team weeks, bringing together employees from across North America. Intersect was recently recognized by TIME Magazine as a 'Top GreenTech Company' on both their 2025 America's and World's lists, named by Fast Company as one of the World's Most Innovative Companies of 2025, and by Forbes as one of America's Best Startup Employers two years running. About Intersect Power Intersect Power is a clean energy company bringing innovative, scalable, and American-made, low-carbon solutions to its customers in global energy markets. We develop, own, and operate some of the world's largest grid-tied clean energy resources, as well as co-located facilities for large industrial loads including data centers, e-fuels, and other energy-intensive products. Intersect is laser-focused on the largest, most transformative clean energy projects that decarbonize the existing power grid and bring new loads to clean generation without the need for new transmission. Intersect is redefining the scope of the clean energy industry by enabling new pathways between clean electricity and the broader economy. We have a base portfolio of 2.2 GW of operating solar PV and 2.4 GWh of battery storage in operation or construction, representing ~$4B in capital investments. We plan to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage representing ~$9B of assets in 2025. To learn more, visit .
Yahoo
14-05-2025
- Business
- Yahoo
Mayor Lurie, Intersect Power Announce New Headquarters in Historic Downtown San Francisco Building
Continues to Cement City as Global Hub of Growing AI and Clean Energy Industries; Marks Another Key Step for Downtown Recovery Under Mayor Lurie's Leadership SAN FRANCISCO, May 14, 2025--(BUSINESS WIRE)--Mayor Daniel Lurie and clean energy company Intersect Power, LLC today announced the company's new headquarters at 140 New Montgomery in downtown San Francisco, marking another step in downtown's comeback and underscoring the city's dominance as a global innovation hub and technology leader. To continue this dominance, Mayor Lurie has been working to accelerate downtown's recovery and make San Francisco the best place to do business, including in clean energy and climate innovation. In February, he established a permanent San Francisco Police Department Hospitality Zone Task Force to keep downtown neighborhoods safe 365 days a year, while proposing new state legislation to support nightlife by creating more liquor licenses to encourage the opening of new bars and restaurants. Mayor Lurie has championed entertainment zones—recently signing legislation to designate a new one in the Castro District and advancing legislation to establish five more. In April, the mayor announced three new pop-ups downtown through the expansion of Vacant to Vibrant, a critical public-private partnership bringing new businesses to formerly vacant properties. "Whether you're a housing developer, a startup founder, or a global company—if you've got a vision, we want you to build it here," said Mayor Lurie. "San Francisco is the place to be for the companies driving the future of climate innovation, and I am thrilled to welcome Intersect Power and their new headquarters to downtown San Francisco. Our administration is working every day to provide safe, clean streets downtown and create the conditions for companies big or small to thrive in our city." Intersect's new headquarters marks yet another investment in San Francisco by a clean energy company. During last month's Climate Week, which drew more than 30,000 attendees and 1,000 organizations to San Francisco, Mayor Lurie joined It's Electric in launching the city's first curbside EV charging stations. Similarly, in April, the mayor and Redwood Materials, a lithium-ion battery recycling and production company, announced the company's new research and development facility at 100 Hooper. In March, Revel opened its first West Coast charging station in San Francisco's Mission District. The new headquarters will provide purpose-built opportunities for employees to gather and collaborate. The company will occupy 12,000 square feet, covering a full floor in the historic Pembroke property at 140 New Montgomery. The building has been a symbol of technology and connection from its construction 100 years ago as the headquarters of one of the country's first telecommunications companies to its role today as a hub for innovative businesses. "As the digital landscape undergoes a profound transformation, driven by the immense potential of AI, San Francisco remains the undeniable epicenter of that progress," said Sheldon Kimber, CEO and Founder of Intersect Power. "The city continues to be a magnet for innovators and builders at the intersection of digitization, electrification and decarbonization and Intersect Power is proud to be a part of that ecosystem." With San Francisco's robust venture capital funding—the Bay Area has 57% of the U.S. total—and rapidly expanding AI sector, Intersect is well-positioned to help the city's growing AI companies meet both their climate goals and energy needs. Intersect has grown exponentially as it moves forward in building AI data centers with a "power-first" approach that co-locates data centers with power generation. With a combination of wind, solar, battery storage, and flexible gas generation, the company can provide the speed, scale, reliability, and cost that data center customers require. As approximately a quarter of Intersect employees are based in the Bay Area, San Francisco has served as a main destination and meeting point for the company's quarterly co-working team weeks, bringing together employees from across North America. Intersect was recently recognized by TIME Magazine as a "Top GreenTech Company" on both their 2025 America's and World's lists, named by Fast Company as one of the World's Most Innovative Companies of 2025, and by Forbes as one of America's Best Startup Employers two years running. About Intersect Power Intersect Power is a clean energy company bringing innovative, scalable, and American-made, low-carbon solutions to its customers in global energy markets. We develop, own, and operate some of the world's largest grid-tied clean energy resources, as well as co-located facilities for large industrial loads including data centers, e-fuels, and other energy-intensive products. Intersect is laser-focused on the largest, most transformative clean energy projects that decarbonize the existing power grid and bring new loads to clean generation without the need for new transmission. Intersect is redefining the scope of the clean energy industry by enabling new pathways between clean electricity and the broader economy. We have a base portfolio of 2.2 GW of operating solar PV and 2.4 GWh of battery storage in operation or construction, representing ~$4B in capital investments. We plan to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage representing ~$9B of assets in 2025. To learn more, visit View source version on Contacts Media Contact: Carmen LoweIntersect Power510-250-2827Press@
