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2w ago

IREN Secures Transmission Link for 800MW Bundey AI Data Center Campus

The four 330kV feeder exits give IREN a direct power route to serve Asia‑Pacific AI demand while the project still depends on regulatory sign‑offs and capital to move from plan to build.

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Overview

  • IREN announced on Wednesday that it signed a transmission connection agreement for a planned 800MW data center campus at Bundey, South Australia.
  • The deal secures four 330kV feeder exits into the local substation, which IREN says can support up to 800MW of load without major network upgrades.
  • The company plans early works now and targets initial energization from 2028, but said construction and power delivery are conditional on regulatory approvals and financing.
  • Markets reacted with a pre‑market stock rally and a Canaccord price‑target increase, followed by a pullback the next day as investors raised questions about funding and legacy bitcoin exposure.
  • The project is framed around South Australia’s near‑100% renewables goal, submarine fiber links to Singapore, Indonesia, South Korea and Japan, and IREN’s existing commercial ties to Microsoft and Nvidia, but it faces risks from GPU supply limits and the high capital needed to populate capacity.