# Meco, Madrid: industrial plot to 25 MW powered land, sold for €11 million

> A private equity manager (ActivumSG) bought a 17,650 m² plot in Meco, on the Madrid–Barcelona corridor, from two local manufacturers in July 2021, secured a **25 MW power agreement in 2022** and a dual feed in 2023, then sold it to data center operator Pure DC for **€11 million** in July 2024. Pure DC won final planning approval in November 2025 for a €400 million first phase (30 MW and a private substation) of a 70 MW campus.

Third-party precedent · Spain · Completed sale; operator building · Pathway: Land and power assembled, then sold to an operator · Last checked 2026-10-13 · https://ampervia.com/case-studies/meco-madrid-powered-land/

## Timeline

| When | What happened |
|---|---|
| Jul 2021 | ActivumSG buys the plot from two local manufacturing companies (price not disclosed). |
| 2022 | 25 MW power agreement secured. |
| 2023 | Dual power feed secured. |
| Jul 2024 | Sold to Pure DC for €11 million (about €440,000 per grid MW). |
| Nov 2025 | Pure DC receives final planning approval: €400m Phase 1, 30 MW plus private substation; campus planned at 70 MW. |

## What changed between entry and exit

- Picked an industrial plot on an established logistics corridor rather than waiting for a listed site.
- Secured the power agreement, then redundancy (dual feed): the step operators pay for.
- Sold at the point an operator could take over planning and build.

## Capital and counterparties

ActivumSG Fund VI held the land through the power phase. Pure DC (backed by Oaktree) bought it and funds the build.

## Economics

| Item | Figure | Note |
|---|---|---|
| Entry price (2021) | Not disclosed | Two manufacturers sold the plot |
| Exit price (2024) | €11 million | Completed sale |
| Exit per grid MW | ≈€440,000 | €11m ÷ 25 MW (Ampervia calculation) |
| Buyer’s first-phase investment | €400 million | Pure DC’s build cost, not seller proceeds |

## Risks and limitations

- The entry price is not public, so the seller’s profit cannot be calculated.
- Power came through an agreement secured before RDL 7/2026 tied Spanish permits to a declared activity.

## Relevance to Ampervia

The value step was power, not land: an industrial plot with a 25 MW agreement became a site an operator would buy. This is the core of Ampervia’s phase 1.

## Sources

- [ActivumSG — €11m powered land sale to Pure DC](https://www.activumsg.com/activumsg-completes-11m-powered-land-sale-pure-dc/)
- [PropertyEU — ActivumSG sells data centre site to Pure DC](https://realassets.ipe.com/propertyeu/activumsg-sells-data-centre-site-to-pure-dc/10116143.article)
- [DCD — Pure DC acquires land in Madrid](https://www.datacenterdynamics.com/en/news/pure-dc-acquires-land-in-madrid-spain-for-data-center-development/)
- [Pure DC — approval for €400m data centre and substation in Madrid (26 Nov 2025)](https://puredc.com/2025/11/26/pure-data-centres-receives-approval-for-e400m-for-data-centre-and-substation-in-madrid/)
- [Pure DC — Madrid campus page](https://puredc.com/madrid)