Matrix Renewables, the Madrid-headquartered renewable energy developer backed by TPG’s $27 billion Rise Climate Fund, has announced its first foray into the UK market, acquiring two major standalone battery energy storage system (BESS) projects in Scotland.
Through a joint development deal with Green BESS Developments UK, a unit of Czech financial group Creditas, Matrix will now spearhead the 1GW/2GWh Eccles and Kilmarnock energy storage assets. The projects are expected to be grid-connected by 2027, positioning Matrix as a new heavyweight in Britain’s rapidly scaling battery storage sector.
Alleviating Grid Bottlenecks on the Anglo-Scottish Spine
Both sites—500MW each—are strategically placed along key north-south transmission corridors, where Scottish wind generation frequently outpaces the capacity to export energy to England. On windy days, when grid congestion forces wind farms to shut down or curtail generation, the new BESS facilities will absorb and store this surplus electricity, helping to balance the system and cut waste.
“Scotland’s transmission constraints are among the most acute in Europe,” one industry analyst noted. “These projects are more than infrastructure—they’re pressure valves.”
TPG-Backed Expansion Plan Targets Over 2GW in UK
Matrix’s acquisition marks the latest chapter in the UK’s storage boom, as global capital flows into flexible grid assets. The company said its UK entry is a deliberate strategic move, citing Britain as “the most advanced market in Europe for standalone battery storage”.
“We’re targeting more than 2GW of development in the UK over the next three years,” said Sergio Arbeláez, Managing Director for Europe and Latin America at Matrix. “That will require over £1 billion of investment, and these first projects are just the beginning.”
Matrix currently operates a global portfolio of 15.5GW across solar, storage, and green hydrogen assets in Europe, the U.S., and Latin America. It is now finalising technical configurations, financing structures, and offtake arrangements for the Eccles and Kilmarnock assets. Talks are underway with a leading unnamed UK EPC (engineering, procurement, and construction) firm to deliver both facilities.
Projects Originated by InterGen, Passed Through Creditas
The two Scottish BESS schemes were initially developed and consented by InterGen, a UK energy company formerly owned by Sev.en Global Investments. In 2023, InterGen’s entire BESS portfolio—including Gateway and New Deer—was acquired by Creditas Group, which now partners with Matrix on the projects.
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Eccles Energy Centre (Berwickshire) was approved by the Scottish Energy Consents Unit (ECU) in December 2024.
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Kilmarnock Energy Centre (East Ayrshire) received final consent on April 7, 2025.
Green BESS Developments UK has retained a minority interest in the projects and is expected to continue working alongside Matrix during the construction phase.
Energy Storage at the Core of UK’s Transition
With the UK grid undergoing a once-in-a-generation overhaul—driven by offshore wind expansion, electrification, and the decline of fossil fuels—large-scale storage has become critical to securing reliability and unlocking value from renewables.
The National Grid ESO has consistently warned that without flexible assets like batteries, constraint costs (payments made to renewable generators to switch off during grid congestion) could exceed £2 billion annually by the end of the decade.
Scotland, with its abundant wind and relatively weak southbound transmission infrastructure, is especially exposed. In this context, Matrix’s 2GWh commitment is being welcomed by analysts and policymakers alike.
“The economics are now firmly aligned with decarbonisation goals,” said a UK-based energy economist. “Storage is the keystone holding the transition together.”
Global Investors Eye Britain’s Storage Pipeline
Matrix’s arrival is part of a growing trend: foreign institutional capital targeting the UK storage sector. Just this year:
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BlackRock, through its Climate Infrastructure fund, acquired a controlling stake in a 900MWh UK battery pipeline.
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Brookfield announced a £700 million UK battery joint venture.
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Enel Green Power is rumored to be scouting its own UK BESS entry.
With the Department for Energy Security and Net Zero (DESNZ) backing a fourfold increase in storage capacity by 2035, developers are racing to secure grid connections, land rights, and consents.
Matrix’s early move, particularly at two consented, high-impact nodes in Scotland, may give it a head start.
