Matrix secures financing for 500 MW Scotland project; Tavion raises funds, secures 1.7 GW Poland pipeline

Madrid-based Matrix Renewables is advancing its ambious UK battery storage deployment plans, having successfully closed a £245 million ($311 million) non-recourse project financing to support the construction of a transmission-connected 500 MW/1,000 MWh battery energy storage system (BESS) project located in Eccles–Leitholm, in southern Scotland.

Strategically located along key transmission corridors between Scotland and England, the Eccles battery storage facility is expected to enhance grid flexibility, support energy security, and facilitate the integration of renewable energy into the UK power system, according to Matrix. Construction began in November 2025, with commercial operations anticipated in the third quarter of 2027 under a partnership with EDF.

“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”.

Matrix, owned by Texan private equity group TPG, entered the UK market in April 2025 and  announced a partnership with Green BESS Development UK Ltd. to develop batteries at Eccles and Kilmarnock, in Scotland, with a total scale of 1 GW/2 GWh.

At the time, Matrix, which claims to have a 15.5 GW energy storage, solar, and green hydrogen project portfolio in Europe, the United States, and Latin America, said it intends to invest more than £1 billion ($1.27 billion) into a further 2 GW of renewable energy generation and storage capacity in the United Kingdom over the next three years.

Meanwhile, a new entrant in the European battery energy storage sector, Stockholm-based Tavion, has announced it has raised SEK 76 million ($7.2 million) in pre-seed funding and secured up to SEK 500 million ($47.5 million) in debt financing. Backed by investors including Course Corrected, BackingMinds, Carl Manneh, and CEO Emad Zand – formerly head of battery systems at Northvolt – the company has already built a 1.7 GW project pipeline in Poland, with 300 MW ready to begin construction.

Tavion focuses on projects in the 15–70 MW range, a segment characterised by shorter development timelines, where the company aims to retain full control over execution. It plans to own and operate its assets across the entire project lifecycle.

The company’s initial focus is Poland, with broader European expansion planned. “Poland has a clear battery storage deficit today, and the market is moving fast. That creates a narrow window where speed and execution are what separate winners from the rest. We’ve secured a strong pipeline early and see a clear path to scale,” said Katarzyna Suchcicka, Head of Poland at Tavion, who previously built and led Swedish renewables developer OX2’s operations in the country.

Tavion has also appointed Torbjörn Wahlborg as Senior Advisor. He currently serves as Chair of the board of Svenska kraftnät, Sweden’s national grid operator, and previously led Vattenfall’s power generation business, including its operations in Poland.