Private investor completes £5.7 million new investment in Dunfermline-based wind farm developer

04/08/11

27th July 2011 Hotbed, the UK’s leading private investor syndicator, has completed its second investment in Dunfermline-based renewable energy specialist Burcote Wind, reaching its target of £5.7 million. 

Burcote Wind’s management team has a proven track record in identifying and acquiring suitable sites for wind farms, and developing them to planning permission stage.  The company currently has options or exclusivity agreements over 8 sites, with a combined potential generating capacity of over 400MW, capable of powering around 300,000 homes.

In 2009, Hotbed Investor Members provided £3.3m of funding to Burcote Wind to identify, acquire and develop suitable sites.  More sites were found than initially anticipated and the recently completed round of capital-raising will fund the development of the additional sites. 

Fraser Campbell, in charge of Operations for Burcote Wind, said:

“I’m delighted that we’ve been able to secure this second round of investment from Hotbed. This will enable us to pursue a growing portfolio of proposed onshore wind energy projects throughout Scotland.

“Dunfermline is conveniently located to be able to access sites throughout the country and by choosing Dunfermline as our base we have been able to access excellent local resources to build our growing Scottish team. We hope to be able to continue to build the business in the future as we identify further opportunities nationwide for sensitive and well-considered onshore wind farm development. In so doing, we will be making a significant contribution towards helping Scotland meet its ambitious objective of generating sufficient electricity from renewable sources to meet 100% of the country’s electricity needs by 2020.”

Russell Pope, Chief Investment Officer at Hotbed said:

“We are delighted to have completed this second round of fundraising.  Government energy targets make the investment case for renewables compelling, but what makes Burcote Wind so attractive is the management team’s track record in gaining planning permission.

“Burcote Wind understands just how crucial public support is to the success of an individual site, which is why it puts so much emphasis on finding the right locations which are both economically viable and acceptable to the local community in terms of their impact.

“The fact that 70% of those attending recent public engagement events about potential wind farm sites in their localities were in favour of Burcote Wind’s proposals demonstrates that they are getting their targeting right.”

ENDS

Notes to Editors:

About Burcote Wind

Burcote Wind is an independent renewable energy company based in Dunfermline, Scotland, but active throughout the UK. The company specialises in onshore wind energy projects from the identification and design stage right through to construction and operation.

About Hotbed

Hotbed is a specialist supplier of alternative asset investments and is authorised and regulated by the Financial Services Authority. Direct private equity and commercial property investments are made available in £25,000 units and private investors have the flexibility to select which investments they wish to participate in.  

Investment into Hotbed opportunities is only available to Investor Members, who must demonstrate that they have sufficient experience, expertise and knowledge to be capable of making their own investment decisions and understand the risks involved in making Hotbed investments.

For more information, please contact:

Alex Bruce

Orbit Communications

alex.bruce@orbit-comms.co.uk

Tel. 0131 257 4232

Mob. 07747 636 504

Alex Bruce

Director

Orbit Communications

Belgrave Business Centre | 45 Frederick Street | Edinburgh | EH2 1EP

tel: 0131 257 4232 | mob: 07747 636 504 | web: www.orbit-comms.co.uk

Contact Us

CONTACT US

Burcote Wind Limited
15 Pitreavie Court,
Queensferry Road,
Dunfermline,
Fife.
KY11 8UU

Tel: 01383 749645