The Globe and Mail reports in its Tuesday edition that Alphabet said on Monday it would buy clean-energy developer Intersect for $4.75-billion in cash, plus assumed debt (all figures U.S.). A Reuters dispatch to The Globe says Big Tech has increased investments in energy firms as U.S. power grids struggle to keep pace with the soaring electricity demand of generative AI amid an intensifying race to capitalize on the booming technology. Under the deal, the Google parent will acquire Intersect's energy and data-centre projects in development or under construction. The company has $15-billion of assets either operating or under construction. By 2028, Intersect projects representing about 10.8 gigawatts of power are expected to be on-line or in development. This is more than 20 times the electricity produced by the Hoover Dam. The acquisition adds to a string of Alphabet's investments and partnerships in the energy space. Earlier this month, utility company NextEra expanded its partnership with Google Cloud to build new energy supplies for the company's operations across the United States. Google, along with TPG Rise Climate, backed Intersect as part of a more than $800-million funding round in December last year.