Recurrent Energy Sells Fort Duncan 200 MWh BESS to Hunt Energy Network

Why It Matters

The sale provides Recurrent with liquidity to fund future projects while strengthening Hunt’s position in the fast‑growing Texas storage market, enhancing grid reliability and investor confidence.

Key Takeaways

• Recurrent sells 200 MWh Fort Duncan BESS to Hunt
• Fort Duncan: 100 MW, 2‑hour, operational June 2025
• Sale adds 420 MW ERCOT capacity for Hunt
• Hunt secured $250 M Manulife funding for storage portfolio
• Recurrent raised $183 M financing for Fort Duncan

Pulse Analysis

The Fort Duncan battery energy storage system, a 100‑MW/200‑MWh facility that began commercial operation in June 2025, represents one of the most reliable merchant assets in ERCOT’s South load zone. Developed originally by Black Mountain Energy Storage and later taken over by Recurrent Energy, the project secured $183 million in financing and tax equity, underscoring the growing appetite for utility‑scale storage in Texas. By selling the asset to Hunt Energy Network, Recurrent converts a capital‑intensive, operating asset into cash flow, while the transaction highlights the maturation of the U.S. storage market where developers are increasingly monetizing mature projects.

Hunt Energy Network, a subsidiary of the diversified Hunt Energy Enterprises, now controls 420 MW of battery capacity across 33 ERCOT projects after acquiring Fort Duncan. The addition of a 2‑hour, 200 MWh BESS bolsters Hunt’s ability to provide frequency regulation, capacity firming, and peak‑shaving services in a market that values fast‑response resources. Backed by a $250 million commitment from Manulife Investment Management, the firm is positioned to accelerate further acquisitions and develop new storage sites, leveraging its family‑owned capital base and expertise in both traditional and renewable energy sectors.

The transaction signals a broader shift where seasoned storage operators are exiting mature assets to free capital for next‑generation projects, while investors seek stable, merchant‑revenue streams. For the Texas grid, the continuity of Fort Duncan’s operation under Hunt ensures ongoing reliability services that mitigate renewable intermittency and support ERCOT’s reliability standards. Moreover, the deal illustrates how tax‑equity financing and institutional funding are becoming integral to scaling storage portfolios, a trend likely to influence future policy and investment decisions across North America’s evolving energy transition.

Deal Summary

Energy storage developer Recurrent Energy, a Canadian Solar subsidiary, has sold its 200 MWh Fort Duncan battery storage project in Texas to Hunt Energy Network. The transaction was announced in February 2026, with revenue expected to be recognized in Q1 2026.