IREN disclosed that it has secured high-voltage grid access for a planned AI data center park in South Australia. According to the company, the park will have a total capacity of up to 800MW, making it one of the largest announced AI infrastructure projects in the Asia-Pacific region. The initial goal is to begin electrification in 2028.

Grid connection has been implemented

The company stated that this agreement secures high-voltage grid access capacity for the industrial park up to 800MW without requiring large-scale grid upgrades. This signifies a key advancement in the project's power supply conditions and lays the foundation for subsequent construction.

IREN also stated that the project still needs to obtain regulatory approval and meet other conditions, and the current timeline remains unchanged, with the goal of starting initial power-on in 2028.

The park caters to the computing power needs of the Asia-Pacific region.

The company stated that the park will also be connected to a submarine fiber optic cable network, linking to major Asia-Pacific markets such as Singapore, Indonesia, South Korea, and Japan. Management believes that the demand for AI infrastructure in the Asia-Pacific region continues to rise, while the gap between existing computing power supply and future demand is widening.

IREN also mentioned that South Australia is pushing for 100% net renewable energy power by 2027, which the company considers part of the project's competitiveness. Company co-founder and co-CEO Daniel Roberts stated that the project combines renewable energy, telecommunications connectivity, and local policy support.

The company continues to bet on AI infrastructure.

IREN states that the campus is expected to create over 500 construction jobs and more than 200 long-term technical positions once operational. The company has also recently stated that its long-term AI strategy is built on its own power, land, and data center assets.

Driven by this news, IREN's stock price rose by about 4% in pre-market trading. Market reaction indicates that investors are focusing on the company's expansion into the AI infrastructure market, moving beyond power and data center resources.

Additional information:The company stated that the initial power-on target for the project remains 2028, provided that regulatory approvals and other conditions proceed as planned.