Fortis Renewable Energy BV signed a mandate letter with the European Bank for Reconstruction and Development for potential long-term financing of the 270 MWp solar and 72 MWh battery Sremska Mitrovica project in Serbia. The structured process initiates due diligence for debt provision. The project targets 365 GWh annual generation, with construction planned for Q3 2026 and commissioning in Q1 2028.
PROJECT SNAPSHOT
| Parameter | Details |
|---|---|
| Project | Sremska Mitrovica Solar PV & Battery Storage Project |
| Location | Sremska Mitrovica, ~80 km northwest of Belgrade, Serbia |
| Developer | Fortis Renewable Energy BV |
| Financing Mandate | European Bank for Reconstruction and Development (EBRD) |
| Solar Capacity | 270 MWp |
| Battery Energy Storage | 72 MWh BESS |
| Total Hybrid Reference Size | 342 MW (combined configuration) |
| Estimated Annual Generation | Over 365 GWh |
| Estimated Household Supply | More than 105,000 households annually |
| Estimated CO2 Reduction | ~182,000 tons per year |
| Planned Start | Q3 2026 |
| Target Commissioning | Q1 2028 |
Turkish renewables developer, Fortis Renewable Energy BV has signed a mandate letter with the European Bank for Reconstruction and Development (EBRD) for the potential long-term debt financing of a 270 MWp solar photovoltaic plant combined with a 72 MWh battery energy storage system (BESS) in Serbia.
The mandate letter marks the start of due diligence procedures required for debt structuring and credit assessment. The project is designed as a hybrid facility integrating utility-scale solar generation with grid-connected battery storage. The 72 MWh BESS component is planned to provide operational flexibility by managing intraday variability in solar output and supporting grid balancing requirements. The storage system is expected to enable improved dispatchability of renewable electricity within Serbia’s transmission network.
Once operational, the project is expected to generate more than 365 GWh of electricity annually and is enough to supply electricity to approximately 105,000 households. Construction is scheduled to commence in Q3 2026, subject to financial close and completion of due diligence processes. Commissioning is targeted for Q1 2028. The project is positioned to become the largest solar PV facility in Serbia and among the largest in the Western Balkans in terms of installed capacity.
Fortis Renewable Energy BV currently operates more than 200 MW of renewable assets. The company is advancing over 500 MW of additional projects planned for 2026–2027 across solar, wind, and energy storage segments. The Sremska Mitrovica development represents a significant addition to its Southeast Europe portfolio.
EBRD has an established record of financing infrastructure and energy projects across the Western Balkans. Through structured debt provision and mobilization of private capital, the institution supports energy market development and infrastructure modernization in the region. The Serbia project aligns with broader regional efforts to expand renewable generation capacity and integrate storage technologies to enhance grid reliability.
The Sremska Mitrovica solar PV and 72 MWh BESS project therefore combines large-scale generation capacity with storage integration, structured under an international financing framework designed to support long-term project viability.