Hunt Energy Network secures funding commitment from Manulife Investment Management

Hunt Energy Network's securing of a US$250 million funding commitment from Manulife Investment Management represents a significant investment in energy storage infrastructure within the ERCOT market. This financing will support a portfolio of projects, including energy storage and thermal peaking capacity, with the acquisition of the Fort Duncan project bringing Hunt Energy Network's ERCOT Battery Energy Storage System (BESS) portfolio to a combined capacity of 420MW across 33 projects. The involvement of both Manulife Investment Management, a large institutional investor, and Black Mountain Energy Storage, a specialist in the sector, underscores the growing confidence in and attractiveness of energy storage assets. This deal is notable for its size, the participation of established players like Manulife, and its focus on the rapidly expanding ERCOT market. The 420MW BESS portfolio represents a substantial contribution to grid reliability and renewable energy integration in Texas. The investment signals a continued trend of institutional capital flowing into energy storage projects, driven by the increasing need for flexible grid resources to support the energy transition. This transaction will likely encourage further investment and development in the energy storage sector, particularly within ERCOT.