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Buccleuch takes £250 million renewable energy project to market
Estate is looking for a firm to complete the construction of the project in Dumfriesshire
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Thank you for subscribingWe have more newslettersShow meSee ourprivacy notice Major landowner Buccleuch Estates has announced its plans to market a renewable energy project valued around £250m.
The project comes with a consented planning permission for a 210 mega watts (MW) pumped storage hydro system (PSH), plus an adjacent wind farm.
Buccleuch has announced that it is to market a consented 210 MW pumped storage hydro system (PSH) and adjacent windfarm in what it describes as “a unique opportunity in the renewable energy space”. The project, which will be built on the former opencast coalmining site at Glenmuckloch, on the Queensberry Estate in Dumfriesshire, would see the development of an energy park, which would consign to history the black scar of previous mining activities. Buccleuch is to market the scheme with the assistance of Edinburgh-based investment bank, Noble & Co.
The project will be built on a former opencast coalmining site. Alan Wilson, energy director at Buccleuch said: “With much of the background work now completed for the site, and Buccleuch as sole owners of the projects, we have reached a pivotal moment and are now looking for a purchaser to take the project through to commercial operation.