Connect will have a capacity of 15,000 with plans to increase it to around 25,000 in time.
The festival will feature electronic and left-field acts and aims to attract a core audience of 25-30 year olds.
Geoff Ellis, head of DF Concerts which also organises T In The Park, told LIVE UK magazine: "The site is in a really beautiful location, but we're keeping it secret for the moment.
"We'll run shuttle buses from the airports and town centres and even the drive there is stunning. We'll have a small camp site and people will be able to hire tee pees and pods."
No news on when the festival might take place, but we'll be the first to let you know.