Burcote Wind unveils £1bn wind power development plans

RENEWEWABLE energy developer Burcote Wind yesterday outlined ambitions to develop ten wind farms in Scotland in what it said could lead to £1 billion of investment.

The Dunfermline-based company, which is backed by private investor syndicate Hotbed, said if the plans came to fruition they would total almost 800MW of installed electricity generating capacity, capable of meeting the energy needs of 554,000 homes.

Burcote Wind is currently consulting on proposals for four sites – Meikleton (Aberdeenshire), Creggan (Argyll and Bute), Sandy Knowe and Benshinnie (both Dumfries and Galloway) – for which it said planning applications will be submitted over the coming 18 months.

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Six other sites are at early stages of environmental and technical appraisal and not yet in the public domain.

Burcote Wind said it aims to take each of its sites through the planning process and then seek partners to raise capital.

It also said the total value of proposed community benefit funding in the areas of the 10 sites totals £60 million over the 25-year lifetimes of the wind farms.

The company is led by chairman Graham Brown, who was a founding director of Scotia Wind which developed a wind farm in Stirlingshire.

Last summer Hotbed completed its second investment in Burcote Wind to take the total invested to £5.7 million.

Hotbed was recently acquired by Connection Capital in a deal which saw joint venture partner Riverside Capital Group acquire Hotbed’s property portfolio.

Together Connection Capital and Riverside will assume control of Hotbed’s entire investment portfolio, which totals £140m of equity under management in assets valued at over £500m across venture capital, private equity, and property deals.