Pure DC has acquired a 190,000 sqft plot of land in Meco, Madrid from private equity firm ActivumSG.
Pure DC is planning to develop its first data centre in Spain on the site, which was acquired by ActivumSG in July 2021 from two local manufacturing companies.
The acquisition follows an extensive analysis of the Madrid Municipality Electricity Grid to identify areas that could support data centre development. ActivumSG secured the signing of a 25 MW power agreement in 2022 to allow the connection of power cables from a nearby electric substation.
Madrid-based real estate development company Tech-Stone will continue to manage the delivery of the scheme for Pure DC.
Brian Betel, Head of Direct Asset Transactions, ActivumSG, said, “There is a huge opportunity in powered land plays as they help solve a pressing issue: a growing requirement for sites suitable for data centre development, which are needed to support the significant expected investment into emerging technologies such as AI. However, while not taking on development risk or the operational complexity of running a data centre, for a successful powered land play, you still need hands-on local expertise and relationships. ActivumSG has an extensive network of in-country teams across Europe to support sourcing and delivery of similar projects.”
Dawn Childs, CEO at Pure DC, added, “Our expansion into Madrid allows us to serve a growing European market and to further extend our global portfolio of data centres. We are excited about working with partners in Spain to deliver another next-generation data centre campus which can help to satisfy the increasing need for data storage and processing power.”
