# Can an operator or fund come in before a data center site is ready-to-build?

> Yes. Recent European deals show buyers committing before ready-to-build, with payment tied to milestones: a non-binding offer for a 300 MW Spanish project pays **€1 million per MW once RTB is certified**, and a term sheet for other Spanish sites pays **€1.5 million upfront, €1.5 million at RTB and €325,000 per leased MW**. In Berlin, a fund bought a plot once its power contract was signed, before any building.

By Razvan Toma, Founder & CEO, Ampervia · Last checked 2026-10-12 · https://ampervia.com/answers/operator-enter-before-rtb/

## Key facts

- Malpica (Toledo): Spark AI Foundry non-binding offer, €1m per certified RTB IT MW, up to €300m (June 2026).
- EdgeMode–Pure DC term sheet: €1.5m per site upfront, €1.5m at RTB, €325,000 per MW leased, with an option to reinvest through a JV (July 2026).
- Siemensstadt (Berlin): data center plot sold to Tristan Capital Partners after the power supply contract was secured (Dec 2025).

## What it means for funding a site

Early steps (option, grid request, studies) can be funded by the site’s first investors; the partner then pays at agreed gates instead of only at full RTB. See the [Malpica case](https://ampervia.com/case-studies/malpica-toledo-rtb-offer/) and the [case studies](https://ampervia.com/case-studies/).

## Sources

1. [EdgeMode — Non-Binding Offer from Spark AI Foundry (OTC Markets release)](https://www.otcmarkets.com/stock/EDGM/news/EdgeMode-fast-tracks-growth-with-Non-Binding-Offer-from-Spark-AI-Fo)
2. [SEC filing — EdgeMode 8-K: Pure DC term sheet and exclusivity (1 Jul 2026)](https://www.sec.gov/Archives/edgar/data/1652958/000168316826005308/edgemode_8k.htm)
3. [DCD — Aventos sells planned data center site in Berlin to Tristan Capital Partners (Dec 2025)](https://www.datacenterdynamics.com/en/news/german-real-estate-firm-aventos-sells-planned-data-center-site-in-berlin-to-tristan-capital-partners/)
4. [DataTech — EdgeMode agrees €300m non-binding sale of Spain project](https://datatech.disruptsmedia.com/data-centres/edgemode-agrees-eur300m-non-binding-sale-spain-data-centre-project)

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