Recurrent Energy, a solar and energy storage project developer and wholly owned subsidiary of Canadian Solar, completed the sale of its 100 MW/200 MWh Fort Duncan battery energy storage project to Hunt Energy Network, a Dallas-based developer of distributed energy resources.
Located in Maverick County, Texas, the project reached commercial operation in June 2025. The company had previously raised $183 million in project financing and tax equity for the project.
Canadian Solar expects to recognize the revenue from the transaction in the first quarter of 2026.
Fort Duncan Storage’s performance is backed by battery energy storage systems supplied by Canadian Solar’s e-STORAGE division. The project operates on a Merchant basis, providing grid support and reliability services to the South Texas region.
With this acquisition, Hunt Energy Network now owns and operates a 420 MW battery storage portfolio, which the company began expanding four years ago.
Pat Wood III, Executive Chairman of Hunt Energy Network, said, “We are fully committed to dramatically growing our presence within ERCOT, and this acquisition is a strong step towards achieving that goal. We appreciate the collaboration with Recurrent on this transaction, and we look forward to operating this asset for many years.”
Previously, in October, Recurrent Energy had raised $825 million in construction financing and tax equity for its Desert Bloom storage and Papago Solar projects. Both projects are located in Maricopa County and are part of the company’s multi-project partnership with Arizona Public Service.
Further, the company also sold its Gunning hybrid solar and battery storage project in Australia to a European infrastructure and investment group in November 2025. Gunning Energy Park comprises a 275 MW solar plant with a 120 MW battery energy storage system, which will connect to the National Electricity Market via a Transgrid transmission line.
According to Mercom’s Annual and Q4 2025 Funding and M&A Report for Energy Storage report, there were 65 energy storage project M&A transactions in 2025 compared to 38 transactions in the same period of 2024.
