IREN agreed to acquire Ingenostrum, S.L., known as Nostrum Group, giving the company a European platform for AI data center development and expanding its power portfolio to 5GW. The Spain-based acquisition adds about 490MW of secured, grid-connected power, plus an additional development pipeline, as IREN targets AI cloud demand from enterprise, startup and sovereign AI customers.
Nostrum brings IREN a Spanish development team with experience across renewable energy, engineering, construction and operations. The company traces its roots to Ingenostrum, founded in 2009 as a renewable energy developer before moving into data center development; public reports cite projects including the 300MW Nostrum Evergreen campus near Badajoz, the 150MW CC Green project in Extremadura, and a €400 million Galicia Green Data Center project.
The background of the acquired company matters because Nostrum appears to be a power-first data center developer rather than an operator with a large installed colocation base. Data Center Dynamics reported in 2025 that Ingenostrum did not yet operate a data center and expected first facilities to become operational in 2027; AECOM later said the Badajoz project had secured electrical capacity, more than 200,000 square meters of ready-to-build industrial land, and a target to obtain its building permit by mid-2026.
- IREN enters Europe through the planned acquisition of Spain-based Nostrum Group.
- The transaction adds roughly 490MW of secured, grid-connected power in Spain.
- IREN says the deal expands its total power portfolio to 5GW.
- Nostrum’s project pipeline includes major Spanish data center developments in Extremadura and Galicia.
- Nostrum CEO Gabriel Nebreda previously held senior roles at EDP Solar, EDP Renewables, Siemens Gamesa and Ferrovial, giving the company a strong renewable-energy and infrastructure background.
- Completion remains subject to customary closing conditions.
“This acquisition establishes a strategic platform in Europe for IREN. Nostrum adds high-quality sites, an experienced local team and a leading position in an attractive market for AI infrastructure. These capabilities support the next phase of growth of our vertically integrated AI Cloud platform,” said Daniel Roberts, Founder and Co-CEO of IREN.
🌐 Analysis: IREN is buying access to grid-connected power, land, local permitting expertise and renewable-energy development capability rather than simply acquiring operating data center capacity. The deal also pairs with IREN’s NVIDIA partnership, announced the same day, which frames IREN’s strategy around large-scale AI factories backed by power portfolios and accelerated compute deployment.