Matrix Renewables has closed a £245m non-recourse project financing for the 500MW/1000MWh Eccles battery energy storage project in southern Scotland.
The company said the underwritten deal was provided by CIBC, MUFG Bank and NatWest, with NatWest also acting as facility agent.
It added construction began in November 2025 and commercial operations are expected in the third quarter of 2027 under a partnership with EDF.
The Eccles–Leitholm project (illustrated) is located along key transmission corridors between Scotland and England and is designed to enhance grid flexibility and energy security.
Once operational, the facility is expected to support the equivalent annual electricity consumption of approximately 270,000 households and avoid around 170,000 tonnes of CO₂-equivalent emissions per year.
“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, chief financial officer of Matrix Renewables.
“We are grateful for the continued support and partnership of our banking partners in bringing this project to a successful financial close.”