AcquisitionsMay 7, 2026, 04:40 PM
IREN Acquires Spain's Nostrum Group, Enters Europe, Adds 490MW Power
AI Summary
IREN Limited announced an agreement to acquire Ingenostrum, S.L. (Nostrum Group), a next-generation data center developer based in Spain. This acquisition marks IREN's strategic entry into the European market, expanding its power portfolio to 5GW and adding approximately 490MW of secured, grid-connected power in Spain, along with a development pipeline. The move enhances IREN's ability to meet customer demand in Europe, leveraging Spain's favorable AI policy and renewable energy resources, and strengthens its AI Cloud platform globally with Nostrum's experienced local team.
Key Highlights
- IREN Limited to acquire Ingenostrum, S.L. (Nostrum Group), a Spanish data center developer.
- Acquisition marks IREN's entry into the European market.
- Increases IREN's power portfolio to 5GW.
- Adds approximately 490MW of secured, grid-connected power in Spain.
- Includes an additional development pipeline in Spain.
- Strengthens IREN's execution capabilities with Nostrum's experienced local team.