IREN Limited, the NASDAQ-listed AI cloud provider, has announced plans to build an 800-megawatt data center campus in Bundey, South Australia, signing a transmission connection agreement to support the development and marking the company's first announced project in Australia.

Site Location and Scale

The proposed campus is located approximately 78 miles northeast of Adelaide and is described by IREN as one of the largest data center projects announced to date in the Asia-Pacific region.

The company signed a transmission connection agreement that secures four 330kV feeder exits at the utility's substation, which IREN says is expected to support up to 800 megawatts of capacity without requiring network upgrades.

IREN expects to commence early works and procurement in parallel with the satisfaction of regulatory approvals and conditions under the transmission connection agreement. The company has stated it is on track to commence energization in 2028.

Power and Connectivity Infrastructure

The Bundey site is positioned to draw on South Australia's energy grid, which has a stated target of reaching 100% net renewable energy by 2027. The campus is also described as benefiting from submarine fiber connectivity into major regional demand centers, including Singapore, Indonesia, South Korea, and Japan.

According to the announcement, the high-voltage transmission connection has been secured directly into the utility's substation, and IREN has indicated that no network upgrades will be required to support the planned capacity.

Jobs and Economic Impact

The project is expected to create more than 500 jobs during the construction phase and over 200 ongoing skilled positions once the campus is operational. South Australian Premier Peter Malinauskas cited the development as a significant economic opportunity for the state and the broader region.

Malinauskas stated that the project has the potential to create hundreds of construction jobs, support long-term skilled roles, and strengthen South Australia's position as a technology and innovation hub for the Asia-Pacific region.

He also referenced the state's record investment in higher education and its appointment of the nation's first dedicated Minister for Artificial Intelligence as factors positioning South Australia to capitalize on AI-driven infrastructure demand.

IREN's Strategic Rationale

Daniel Roberts, Co-Founder and Co-CEO of IREN, said South Australia offers the combination of clean energy, regional connectivity, and government support that AI infrastructure at scale requires. Roberts added that the Bundey campus is positioned to serve both global and regional AI demand, as well as South Australia's own growing need for AI compute.

Roberts said the company looks forward to partnering with the Government of South Australia, local communities, and industry to expand domestic access to AI infrastructure, support research and innovation, and help build the skills and jobs required by the AI economy.

Asia-Pacific Market Context

IREN's announcement identifies Asia-Pacific as one of the world's fastest-growing sources of AI demand, while noting a significant gap between projected demand and available infrastructure in the region.

The company describes itself as a vertically integrated AI cloud provider delivering large-scale data centers and GPU clusters for AI training and inference, with a portfolio of grid-connected land and power in renewable-rich regions across North America, Europe, and the Asia-Pacific region.

The Bundey campus represents IREN's entry into the Australian market and its first announced Asia-Pacific data center project. IREN trades on the NASDAQ exchange under the ticker symbol IREN.

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