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MATRIX RENEWABLES CLOSES £245 MILLION NON-RECOURSE FINANCING FOR 500MW BATTERY STORAGE PROJECT IN SCOTLAND
Matrix Renewables ("Matrix"), the TPG Rise-backed global renewable energy platform, has successfully closed a £245 million non-recourse project financing to support the construction of a large-scale, transmission-connected 500MW/1,000MWh Battery Energy Storage System (BESS) project located in Eccles–Leitholm, in southern Scotland.
About this update from Mitsubishi Ufj Financial Group, Inc.
[{"type":"text","content":"MADRID, April 28, 2026 /PRNewswire/ -- Matrix Renewables ("Matrix"), the TPG Rise-backed global renewable energy platform, has successfully closed a £245 million non-recourse project financing to support the construction of a large-scale, transmission-connected 500MW/1,000MWh Battery Energy Storage System (BESS) project located in Eccles–Leitholm, in southern Scotland.","length":381,"tagName":"p"},{"type":"text","content":"The financing was arranged as an Underwritten Deal provided by CIBC's London Branch, MUFG Bank, Ltd., and NatWest, with NatWest also acting as Facility Agent, reflecting the strong confidence of leading international financial institutions in Matrix's operating capabilities and the UK storage market.","length":309,"tagName":"p"},{"type":"text","content":""This £245 million financing underwritten by CIBC, MUFG, and NatWest reflects the strong and growing demand for high-quality battery storage assets and reinforces the strength of our UK platform," said Nicolás Navas, CFO of Matrix. "We are grateful for the continued support and partnership of our banking partners in bringing this project to a successful financial close".","length":393,"tagName":"p"},{"type":"text","content":"Strategically located along key transmission corridors between Scotland and England, the Eccles battery storage facility will play a key role in enhancing grid flexibility, energy security, and the integration of renewable energy within the UK power system. Construction commenced in November 2025, with commercial operations expected in the third quarter of 2027 under a partnership with EDF. The project will drive local employment and stimulate local economic activity throughout the construction and operation phases.","length":521,"tagName":"p"},{"type":"text","content":"Once operational, the Eccles BESS is expected to provide sufficient flexibility services to support the equivalent to the annual electricity consumption of approximately 270,000 households and avoid an estimated 170,000 tonnes of CO₂-equivalent emissions per year, contributing meaningfully to the UK's decarbonisation objectives.","length":334,"tagName":"p"},{"type":"text","content":"Matrix has worked closely with local authorities and environmental stakeholders to ensure that the project is developed in line with strict environmenta...