Madrid-based developer Matrix Renewables has closed £245 million ($331M) in non-recourse financing for its 500MW/1GWh battery energy storage system (BESS) at Eccles in southern Scotland. The deal, backed by a syndicate of international lenders, also comes just weeks after the company secured a long-term optimization agreement with EDF. Financing for Matrix Renewables’ 1 GWh BESS at Eccles in Scotland also follows a full EPC award to Tesla. As of 2026, the project is under active construction and targets operations start by summer 2027.
Matrix Renewables’ BESS at Eccles, Scotland: Project Overview
Matrix Renewables’ BESS project at Eccles in Scotland is a 500MW/1GWh lithium-ion battery storage facility, making it one of the largest of its kind in the UK. It will provide rapid-response grid services, frequency regulation, and energy arbitrage. This is designed to enable higher penetration of renewables while maintaining grid stability.
The battery energy storage project is also strategically located near a key transmission line. The system will relieve pressure on the grid by taking up surplus generation and releasing it when demand peaks.
Fact Sheet for Matrix Eccles Battery Energy Storage (BESS) Project in Scotland
Location: Eccles in Scottish Borders, United Kingdom
Total Capacity: 500 MW/1 GWh
Battery Duration: 2-hour
Homes Powered Equivalent: 100,000
Project Type: Standalone grid-scale lithium-ion battery storage
Status (as of 2026): Under construction
Target COD: Summer 2027
Project Timeline
Dec 22, 2025 – EPC agreement signed with Tesla
March 2026 – Optimization agreement signed with EDF
April 2026 – £245M financing reaches financial close
2026–2027 – Construction and system integration
Summer 2027 – Commercial operations begin
Matrix Renewables’ BESS at Eccles, Scotland: Project Cost
The £245 million financing package was underwritten by a consortium of major international banks. They include:
The deal structure is non-recourse. This means repayment is tied solely to project cash flows.
Project Team
Developer
- Matrix Renewables (backed by TPG’s Rise Fund)
Optimization and Route-to-Market Partner
- EDF – long-term battery optimization and trading services
EPC Contractor
- Tesla – full EPC for battery system deployment
Lenders
- CIBC
- MUFG
- NatWest
Owner’s Engineer
- Black & Veatch
Part of Scotland’s Battery Energy Storage Market
Matrix Renewables’ BESS at Eccles in Scotland is, like most, designed to store excess renewable electricity and dispatch it during peak demand. It will directly address grid congestion and intermittency challenges alongside other BESS installations including the Blackhillock battery energy storage project by Zenobe seeking to reach full 600 MWh capacity this year.
This project also reflects the growing investor confidence in storage as a standalone energy asset class. The use of non-recourse project financing, which is typically reserved for mature infrastructure, also shows how battery storage is now viewed as a core component of the energy transition, rather than a supporting technology.
What Lies Ahead for the 1GWh Battery Project in Scotland
Matrix Renewables’ BESS project at Eccles in Scotland is expected to become a flagship asset in the UK’s flexibility market. The battery project will also support the country’s Clean Power 2035 and Net Zero 2050 targets.
Additionally, as renewable penetration rises, projects like this will play a key role in balancing supply and demand in real time.
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