Montero Aramburu & Gómez-Villares Atencia has advised Andera Partners and Ingenostrum (Nostrum Group) on the sale of the company to IREN Limited, an AI cloud provider with operations across North America, Europe, and Asia-Pacific.
The transaction involves the transfer to IREN’s platform of approximately 490 MW of secured, grid-connected capacity in Spain, as well as a significant additional development pipeline. The deal is aimed at strengthening Spain’s position as a technology hub in Southern Europe.
Nostrum Group — known as Ingenostrum until 2025 — was founded in 2009 and brings more than 15 years of experience in energy and digital infrastructure projects. Following the entry of Andera Partners as a strategic partner in 2023, the group reoriented its business model toward the development and operation of next-generation data centres powered by renewable energy, establishing itself as a leading player in the European AI infrastructure market.
IREN Limited (NASDAQ: IREN) (“IREN”) announced that it has entered into an agreement to acquire Ingenostrum, S.L. (Nostrum Group), a next-generation data centre developer based in Spain.
The acquisition marks IREN’s entry into the European market and increases its power portfolio to 5GW. It adds approximately 490MW of secured, grid-connected power in Spain, together with an additional development pipeline, enhancing IREN’s ability to meet observed customer demand in Europe.
Spain offers an attractive environment for large-scale AI data centre development, supported by favourable AI policy frameworks, a supportive regulatory and permitting environment, strong connectivity, and abundant low-cost renewable energy.
The integration of Nostrum’s experienced local team across development, engineering, construction, and operations further strengthens IREN’s execution capabilities and supports the continued expansion of its global AI cloud platform.
Daniel Roberts, Founder and Co-CEO of IREN, 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.”
Gabriel Nebreda, CEO of Nostrum Data Centers, 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.”
Completion of the acquisition remains subject to customary closing conditions.
About IREN
IREN is a vertically integrated AI cloud provider, delivering large-scale data centres and GPU clusters for AI training and inference. Its platform is supported by an extensive portfolio of grid-connected land and power in renewable-rich regions across North America, Europe and APAC.
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