IREN targets European AI growth with Spain deal

IREN Limited is expanding its AI infrastructure footprint in Europe through the acquisition of Spanish data center developer Ingenostrum, S.L.. The move gives IREN access to around 490MW of secured grid-connected power capacity in Spain and lifts the company’s global power portfolio to 5GW, reflecting the growing demand for AI training and inference infrastructure across Europe.

For eeNews Europe readers, the deal highlights the accelerating build-out of AI-focused data center capacity in Europe and the increasing importance of renewable-powered infrastructure. It also underlines Spain’s emergence as a strategic location for large-scale AI and cloud deployments.

Spain emerges as AI infrastructure hub

IREN said Spain offers a strong environment for AI data center expansion thanks to supportive AI policy, relatively streamlined permitting, strong connectivity and access to low-cost renewable energy. The acquisition also brings in Nostrum’s local development and operations teams, adding expertise across engineering, construction and site management.

IREN said Nostrum’s local development and operations teams will help the company scale its AI Cloud platform more quickly in Europe. Daniel Roberts, founder and co-CEO of IREN Limited, said: “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.”

Growing demand for sovereign AI

The deal also reflects rising interest in sovereign AI infrastructure programs across Europe, where governments and enterprises are looking for locally hosted AI computing resources. Gabriel Nebreda, CEO of Ingenostrum, S.L., said: “We are excited to join IREN and help accelerate the development of AI infrastructure in Europe. With IREN’s vision, expertise and global platform, we are well positioned to serve the growing needs of customers in Europe, including sovereign AI programs.”

The acquisition remains subject to customary closing conditions.