Matrix Renewables has secured £245 million in non-recourse financing for a 500 MW/1,000 MWh battery energy storage system (BESS) project located in Eccles-Leitholm, Scotland. The project, being developed in partnership with EDF, commenced construction in November 2025. Commercial operations are expected to commence in the third quarter of 2027. The project will support power demand equivalent to 270,000 households and will help avoid around 170,000 tonnes of carbon emissions annually.
Furthermore, the transaction was underwritten by CIBC, MUFG Bank, and NatWest, with NatWest acting as the facility agent. The project also includes a community collaboration agreement with the Leitholm Eccles and Birgham Community Council to deliver local benefits. Advisors for the project include A&O Shearman for Matrix Renewables, while the lenders were advised by Watson Farley & Williams, Enertis and Aurora Energy Research.
In April 2026, Matrix Renewables began commercial operations of the 281 MWdc Stillhouse Solar PV project in Bell County, Texas, alongside ITC funding and long-term debt conversion. The project represents an investment of over $380 million and includes 15-year PPAs with affiliates of Hyundai Motor Group. The project will help supply clean energy to roughly 48,862 households.