Iren Limited has closed an agreement to take over Ingenostrum (Nostrum Group), a Spanish company specialized in the development of next-generation data centers, as both companies communicated this Friday.
With this operation, the Australian firm, which is listed on Nasdaq, makes its strategic leap into the European market, incorporating in Spain nearly 490 megawatts (MW) of already secured and grid-connected capacity, in addition to a broad pipeline of projects in development.
"Spain offers an attractive environment for the development of large artificial intelligence (AI) data centers, supported by favorable policies and a constructive regulatory framework, excellent connectivity, and abundant renewable energy at a very competitive cost," the company detailed.
The operation strengthens Spain's role as a reference digital 'hub' in the south of the continent and enhances Iren's capacity to provide reliable, scalable, and sustainable solutions to large corporate clients and to global providers of digital services.
Ingenostrum was born in 2009 and since then has built a distinguished career in the field of renewable energies. A turning point in its development was the entry in 2023 of Andera Partners as a strategic and financial partner, which allowed its business plan to be decisively accelerated.
From the incorporation of Andera Partners, along with Guy Auger and Pierre Millot, the company became professionalized and obtained the necessary financial muscle to leverage its project portfolio. With the support of Santiago Rodríguez Agúndez, founder and executive chairman, the group has registered "significant" growth.
The 'rebranding' in 2025 (from Ingenostrum to Nostrum Group) marked the start of a roadmap aimed at consolidation and expansion, placing data centers at the center of the company's activity.
This strategy was promoted by Gabriel Nebreda, CEO, who steered the evolution from an engineering firm focused on the development of solar projects to turning it into one of the main European platforms in the development, construction, and operation of data centers.
The incorporation into Iren of Nostrum's local team, with extensive experience in development, engineering, construction, and operations, strengthens the Australian group's execution capacity and supports the international growth of its AI Cloud platform.