By Razvan Toma · Founder & CEO, Ampervia · Last checked 2026-10-13 · Sources linked below
The same manager repeated the play in Vicálvaro, 15 km from central Madrid: it secured a site of about 22,000 m² in 2022, obtained 40 MW of power rights (10 MW immediately, 30 MW by Q1 2026), and sold it in October 2024 to Edgnex, the data center arm of DAMAC, which announced a €400 million project for the first 40 MW. The land price was not disclosed. Sources (4)Europe Real EstateEurope Real Estate — ActivumSG sells land in Madrid to Edgnex↗Capital & RiesgoCapital & Riesgo — ActivumSG completes powered land sale to DAMAC↗
DCDDCD — Edgnex to develop 40 MW data center in Madrid↗Iberian PropertyIberian Property — DAMAC buys land in Madrid for €400m data centre↗
Timeline
| When | What happened |
|---|---|
| 2022 | ActivumSG Fund VII secures the site (about 22,000 m²; price not disclosed). |
| Before sale | 40 MW power rights secured: 10 MW immediately, 30 MW by Q1 2026. |
| Oct 2024 | Sold to DAMAC’s Edgnex; Edgnex announces €400m for the first 40 MW. |
What changed between entry and exit
- Secured staged power rights before selling, so the buyer had a dated route to 40 MW.
- Sold to a new entrant to Europe that needed a ready platform in Madrid.
Capital and counterparties
ActivumSG Fund VII through the power phase; DAMAC/Edgnex for the build.
Economics: confirmed and not disclosed
| Item | Figure | Note |
|---|---|---|
| Entry price (2022) | Not disclosed | |
| Exit price (2024) | Not disclosed | |
| Buyer’s announced investment | €400 million | Build cost for the first 40 MW, not seller proceeds |
Risks and limitations
- Neither price is public: the case proves the pathway, not the return.
- Part of the power (30 MW) was scheduled for later delivery.
Relevance to Ampervia
Staged power (some now, more on a date) is sellable. Buyers price a credible schedule, not only energised megawatts.
Sources
- Europe Real Estate — ActivumSG sells land in Madrid to Edgnex
- Capital & Riesgo — ActivumSG completes powered land sale to DAMAC
- DCD — Edgnex to develop 40 MW data center in Madrid
- Iberian Property — DAMAC buys land in Madrid for €400m data centre
Last checked 2026-10-13. Third-party precedent, not an Ampervia project.