By Razvan Toma · Founder & CEO, Ampervia · Last checked 2026-10-13 · Sources linked below
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. Sources (4)
ActivumSGActivumSG — €11m powered land sale to Pure DC↗PropertyEUPropertyEU — ActivumSG sells data centre site to Pure DC↗
DCDDCD — Pure DC acquires land in Madrid↗Pure DCPure DC — approval for €400m data centre and substation in Madrid (26 Nov 2025)↗
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: confirmed and not disclosed
| 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
- PropertyEU — ActivumSG sells data centre site to Pure DC
- DCD — Pure DC acquires land in Madrid
- Pure DC — approval for €400m data centre and substation in Madrid (26 Nov 2025)
- Pure DC — Madrid campus page
Last checked 2026-10-13. Third-party precedent, not an Ampervia project.