IREN unveils 900‑MW data centre campus in Wagga Wagga, Australia
Nasdaq‑listed data‑centre developer IREN announced plans for a 900‑megawatt Redbank campus near Wagga Wagga. The project could involve up to AU$10 billion of investment and is expected to create more than 500 construction jobs and over 200 permanent roles. IREN said it will pay more than $200 million to Wagga Council over 30 years and will fund its own transmission connection while contracting new power generation. Community drop‑in sessions are scheduled for November 4‑5.
Why it matters
Investors reacted negatively, with IREN shares falling 9.4% after the announcement, reflecting concerns that the project is speculative and lacks firm grid connections and planning approvals. The stock’s decline adds to a broader sell‑off in AI‑infrastructure names.
Key facts
- 1The proposed Redbank Data Centre will have a capacity of 900 MW. dailyadvertiser.com.au
- 2IREN forecasts payments of more than $200 million to Wagga Council over 30 years. dailyadvertiser.com.au
- 3The project is expected to create over 500 construction jobs and more than 200 ongoing full‑time positions. dailyadvertiser.com.au
- 4IREN plans community drop‑in sessions on November 4 and November 5. dailyadvertiser.com.au
- 5Potential investment in the campus is up to AU$10 billion. datacenterdynamics.com
- 6IREN shares fell 9.4% in morning trading after the announcement. investing.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.