Based in Spain and founded in 2009 as an engineering company operating in the renewable energy sector where it built a strong track record, Ingenostrum, S.L. is a next-generation data center developer. A key milestone in its evolution was the entry of Andera Partners as a strategic and financial partner in 2023 through Andera Smart Infra 1, investment vehicle for Andera Partners’ Infra strategy. This move provided the necessary momentum to accelerate its business plan. Since Andera Partners’ entry the company became more professionalized and secured the financial backing needed to enhance the value of its project portfolio. Alongside the support of Santiago Rodríguez Agúndez as founder and executive chairman, the group has experienced significant growth. The 2025 rebranding (from Ingenostrum to Nostrum Group) marked the beginning of a consolidation and expansion strategy focused on data centers as the core of the company. resulting in a successful transformation from a solar project development engineering firm into one of the leading platforms for data center development, construction, and operations in Europe.
This acquisition marks IREN’s strategic entry into the European market, adding approximately 490 MW of secured grid-connected capacity in Spain, along with an additional development pipeline. Spain offers an attractive environment for the development of large-scale AI data centers, supported by favorable policies and a constructive regulatory framework, excellent connectivity, and abundant renewable energy at a highly competitive cost. The transaction strengthens IREN’s ability to deliver reliable, scalable, and sustainable solutions to corporate clients and global digital service providers. The integration of Nostrum’s experienced local team in development, engineering, construction, and operations strengthens IREN’s execution capabilities and supports the global expansion of its AI Cloud platform.
In the words of Daniel Roberts, Founder and Co-CEO of IREN: “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.”
According to Guy Auger, Partner at Andera Partners: “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 toward renewable-powered data centers, we have helped build a first-tier player in one of Europe’s most dynamic markets, while deepening our understanding of the Spanish market, whose potential further strengthens our long-term interest in this geography for our future funds. We would like to sincerely thank Santiago Rodríguez Agúndez, Gabriel Nebreda Molinero, and their teams for this shared journey, as well as IREN for the trust placed in Andera throughout this transaction.”
For his part, Gabriel Nebreda, CEO of Nostrum Group, stated: “We are proud to join IREN to accelerate the development of artificial intelligence infrastructure in Europe. By combining our strong local execution capabilities with IREN’s vision, expertise, and global AI platform, we are creating a unique company, well positioned to meet growing customer demand 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.”