Data center and energy firm Nostrum Group is looking to find an investment partner for its planned data center developments.

Bloomberg reports the company – formerly known as Ingenostrum – is planning to raise as much as €400 million ($468m) by selling stakes in its in-development data centers.

Andera Partners-backed Nostrum expects to receive non-binding offers for as much as 60 percent of its overall data center business by the end of July, company CEO Gabriel Nebreda told the publication.

The company rebranded this month, restructuring into two divisions: Nostrum Data Center, dedicated to the data centers; and Nostrum New Energies, focused on renewable energy and storage developments.

Its data center portfolio totals six projects of various sizes and stages of development with a total capacity of more than 400MW.

The firm could sell a stake in the entire data center business or stakes in individual projects, which is the most likely option, Nebreda said

According to its website, Nostrum says it has projects in Extremadura (Badajoz and Cáceres, both 214MW), Castile La Mancha (Guadalajara, 29MW and Pinto, 21MW), the Basque Country (Zamudio, 21MW), and Galicia (18MW).

The company’s Galacia project is reportedly live in its first 8.5MW phase, and is set to be expanded to 40MW in the future.

Nostrum’s energy division claims to have 5GW of renewable capacity live and another 1GW in development.

Andera Infra, Andera Partners’ green infrastructure team, acquired a minority stake in what was then Ingenostrum in 2023.