$IREN (-4,23%) acquired the Spanish data center developer Ingenostrum in June, marking its entry into the European market— with approximately 490 MW of secured, grid-connected capacity.
The largest single project resulting from this acquisition has now taken a step forward: For Nostrum Evergreen in Badajoz , the regional government of Extremadura has now approved the power connections.
Project overview:
- Installed capacity: 300 MW via the Riocaya substation
- Investment: ~1.9 billion €, of which 12.7 million € is for the substation
- Area: ~200,000 m²
- Expansion plan: 150 MW in the first phase, 300 MW starting in 2029, up to a total of 500 MW starting in 2031
For IREN, this means: The electricity supply for Europe’s largest facility is officially secured; the second expansion phase of 300 MW is scheduled for 2029, and full operation is planned for 2031—a completion date for the first phase of 150 MW has not yet been announced.
