Intel

INTCTechnology·Market Cap: $188B

Total Deals

20

Total Capacity

518 MW

Disclosed Investment

$1.3B

Disclosed transactions only

Deal Period

First: Jan 2004

Latest: May 2024

Strategy Breakdown

Business Context

  • Intel guided 2025 gross capex of $20–23 billion, down from $25–27 billion in 2024, reflecting cost discipline amid market pressures.
  • Received up to $8.5 billion in CHIPS Act grants and $11 billion in loans to expand fabs in Arizona, Ohio, New Mexico, and Oregon.
  • Ohio fab complex delayed to 2030 from original 2027 target; Arizona Fab 52 and Fab 62 entered production in 2025 on Intel 18A process.
  • AI data center buildout driving demand for energy-efficient compute; Intel positioning Gaudi accelerators and 18A foundry services against NVIDIA dominance.

Commitments

  • RE100 member since 2020; target of 100% renewable electricity globally by 2030.
  • Net-zero Scope 1 and 2 emissions by 2040; net-zero upstream Scope 3 by 2050.
  • No SBTi-approved targets; Intel declined participation citing structural challenges with near-term requirements given historical reductions from 2006 peak.

Energy Strategy

A mature solar-dominated procurement strategy concentrated in Oregon and Arizona, anchored by utility-scale PPAs with Portland General Electric and onsite installations at major fab campuses.

  • Signed three consecutive PPAs with PGE totaling 360 MW between 2020 and 2023 (Pachwáywit Fields 162 MW, Daybreak 138 MW, Bakeoven 60 MW) to serve Oregon operations.
  • Issued $1.25 billion inaugural green bond in 2022 to fund renewable electricity, energy efficiency, and circular economy projects across global manufacturing footprint.
  • Deployed 8 MW solar carport at Ocotillo, Arizona in 2017 and 4 MW onsite solar farm in Malaysia in 2021, representing largest solar installation outside U.S.
  • Launched Catalyze program in 2023 with Applied Materials and Schneider Electric to aggregate semiconductor supply chain renewable purchasing power for smaller suppliers.
  • Portfolio heavily weighted to solar (495 MW of 518 MW total capacity); no tracked nuclear, geothermal, or 24/7 CFE deals despite industry peer pivot toward firm clean power.

Investment Timeline

PPA
Equity
Infra/Capex
JV/Partnership

Deal Breakdown

By Category

20deals
Infra/Capex
JV/Partnership
PPA
Equity

By Energy Type

Other
Hybrid/Multiple
Solar
Wind

Geographic Footprint

Loading map...

All Deals

DateDealCapacityValueCategory
May 2024

Intel – Bloom Energy Power Capacity Agreement Expansion, Santa Clara HPC Data Center

Bloom Energy Corporation

Infra/Capex
Jul 2023

Intel, Applied Materials, Schneider Electric – Catalyze Semiconductor Supply Chain Renewable Energy Program

Schneider Electric

JV/Partnership
Apr 2023

Intel – PGE / Avangrid Bakeoven Solar 60 MW PPA, Wasco County Oregon

Portland General Electric (PGE)

60 MWPPA
Jan 2023

Intel – Malaysia 35 MW Offsite Solar PPA

Unknown

35 MWPPA
Aug 2022

Intel – Inaugural Green Bond Issuance ($1.25 Billion, August 2022)

Bond investors (public issuance)

$1.3BInfra/Capex
Apr 2021

Intel Malaysia – Onsite Solar Farm, Kulim Hi-Tech Park & Penang (4.1 MW)

NEFIN

4 MWInfra/Capex
Feb 2021

Intel – PGE / Avangrid Daybreak Solar 138 MW PPA, Wasco County Oregon

Portland General Electric (PGE)

138 MWPPA
Jan 2020

Intel – PGE / Avangrid Pachwáywit Fields Solar 162 MW, Gilliam County Oregon

Portland General Electric (PGE)

162 MWPPA
Dec 2018

Intel – SRP / sPower East Line Solar 100 MW PPA, Coolidge Arizona

Salt River Project (SRP)

100 MWPPA
Nov 2017

Intel Ireland – 100% Renewable Electricity Supply Agreement with Electric Ireland

Electric Ireland

PPA
Apr 2017

Intel – Ocotillo Campus Solar Carport, Chandler, Arizona (7.7 MW)

Tesla (SolarCity successor)

8 MWInfra/Capex
Feb 2016

Intel – Folsom Campus Solar Carport Phase 3 (6.5 MW)

SolarCity Corporation

7 MWInfra/Capex
Jan 2014

Intel – Bloom Energy Fuel Cell Power Installation, Santa Clara HPC Data Center

Bloom Energy Corporation

1 MWInfra/Capex
Jan 2012

Intel – Folsom Campus Solar Phase 2 (1 MW)

SolarCity Corporation

1 MWInfra/Capex
Jan 2011

Intel Capital – Sulfurcell Solar Thin-Film Follow-on Investment (2011 Round)

Sulfurcell Solartechnik GmbH

Equity
Jan 2010

Intel – Eight-Site U.S. Onsite Solar Installation Program

SolarCity Corporation

3 MWInfra/Capex
Jul 2009

Intel Capital – CPower Energy Management Equity Investment

CPower

Equity
Jul 2008

Intel Capital – Sulfurcell Solar Thin-Film Investment (2008 Round)

Sulfurcell Solartechnik GmbH

Equity
Jun 2008

Intel Capital – SpectraWatt Inc. Solar Cell Manufacturer Equity Investment

SpectraWatt Inc.

$50MEquity
Jan 2004

Intel – PGE Green Future Enterprise (Clean Wind) Oregon Wind Power Agreement

Portland General Electric (PGE)

PPA