Hunt Energy Network Acquires 200 MWh Texas Battery Facility
Hunt Energy Network has acquired the 100-megawatt Fort Duncan battery energy storage system from Recurrent Energy. The facility, located in Texas, has a storage capacity of 200 megawatt-hours. Recurrent Energy, a subsidiary of Canadian Solar, completed the sale as part of its strategy to monetize projects to fund continued growth.
- The Electric Reliability Council of Texas (ERCOT) manages the grid for most of the state and has seen a more than 4,100 percent increase in utility-scale battery storage capacity between September 2020 and September 2024. Texas is the fastest-growing market for battery energy storage in the U.S. and is projected to add more capacity than any other state in 2024. - The Fort Duncan facility, located in Maverick County, operates on a merchant basis, meaning it will store and dispatch power to the grid in response to market prices and demand. During a two-hour cycle, it can provide enough electricity to power up to 66,100 homes. - Initial development of the Fort Duncan project was handled by Black Mountain Energy Storage before Recurrent Energy acquired it in June 2022 as part of a two-project portfolio. - The project is designed to enhance grid reliability by providing ancillary services, which are essential for maintaining grid stability, especially during peak demand or extreme weather. This helps to balance the intermittent nature of renewable energy sources like wind and solar. - The sale is part of a broader strategy for Recurrent Energy and its parent company, Canadian Solar, to monetize their extensive project pipelines to recycle cash and fund new developments. - Hunt Energy Network is an affiliate of the Hunt family of companies and specializes in developing and operating distributed energy resources within the ERCOT market.
