IREN acquires Nostrum Group for European AI expansion
Author: Joe Peck
IREN, an Australian AI cloud infrastructure provider, has agreed to acquire Spanish data centre developer Nostrum Group as part of its expansion into the European AI infrastructure market.
The deal adds around 490MW of secured grid-connected capacity in Spain, alongside an additional development pipeline, strengthening IREN’s AI cloud platform in Europe.
Nostrum Group, formerly Ingenostrum, was founded in 2009 and has operated across renewable energy and digital infrastructure development. The company rebranded in 2025 as part of a strategy focused on data centre development, construction, and operations.
IREN says Spain offers favourable conditions for large-scale AI data centre development due to renewable energy availability, connectivity, and regulatory support.
Acquisition expands AI data centre capabilities
The acquisition also brings Nostrum’s local development, engineering, construction, and operations teams into IREN’s business.
Daniel Roberts, founder and Co-CEO of IREN, says, “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.”
Guy Auger, Partner at Andera Partners, adds, “This divestment perfectly illustrates the thesis of Andera Smart Infra 1: supporting entrepreneurs in the acceleration phase of deploying their energy infrastructure assets.
“By backing Nostrum Group’s strategic pivot towards renewable-powered data centres, we have helped build a first-tier player in one of Europe’s most dynamic markets.”
Gabriel Nebreda, CEO of Nostrum Group, comments, “We are proud to join IREN to accelerate the development of artificial intelligence infrastructure in Europe.
“The acquisition of Nostrum Group highlights the enormous potential of Spain as a Southern European digital hub, as well as our team’s ability to lead the emerging market for next-generation digital infrastructure.”
Advisers to the transaction included Linklaters and EY for IREN, and BBVA, White & Case, Montero Aramburu and Gómez-Villares Atencia, and Piedmont Advisors for Andera Partners and Nostrum Group.
For more from Nostrum Group, click here.
