A substantial financing package has been secured for a large-scale battery energy storage development in the Scottish Borders.
The £245 million deal will support construction of a battery energy storage system (BESS) near the Eccles substation, where work first got under way in November. Developers have been increasingly drawn to the area due to its strategic grid connection, with the substation undergoing expansion.
Matrix Renewables said the agreement reflected the 'strong and growing demand for high-quality battery storage'.
The project forms part of a wider cluster of proposed energy developments in the Borders, a trend which has raised concerns locally about the cumulative impact on what has traditionally been a predominantly rural landscape.
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Residents in nearby Leitholm, situated between Coldstream and Greenlaw, have been particularly vocal, arguing that the scale and number of schemes risk fundamentally altering the character of the area.
Financial backing for the scheme has been underwritten by a consortium including CIBC, MUFG and NatWest, with the site expected to become operational next year in partnership with EDF.
Matrix Renewables said it would 'drive local employment and stimulate local economic activity' during both construction and operation.
Once completed, the Eccles facility is projected to provide storage capacity equivalent to the energy needs of around 270,000 homes.
The company added it had engaged closely with stakeholders throughout the planning process, stating the project had been developed in line with 'strict environmental, technical and community standards'.
It also confirmed that a collaboration agreement had been reached with the local community council to support initiatives aimed at delivering tangible benefits for residents.
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