IREN Limited Secures 800 MW Data Center Agreement in South Australia
IREN Limited shares rose 5.2% following the announcement of a 800 MW data center project in Bundey, South Australia. This initiative is projected to generate over 200 permanent jobs and over 500 during construction, contributing to local economic growth and supporting South Australia's renewable energy goals.
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IREN Limited announced a 5.2% increase in its stock price due to a connectivity agreement for a data center in Bundey, South Australia. The 800 MW facility, IREN's first in Australia, is designed to operate without additional network upgrades, utilizing four 330 kV power exits.
Construction is set to begin with operations commencing in 2028. The project will enhance regional connectivity through submarine fiber optics to major demand centers including Singapore, Indonesia, South Korea, and Japan.
The South Australian electricity grid aims for 100% net renewable energy by 2027. The economic impact of the project is acknowledged by local leaders, with job creation as a significant benefit.
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