Fortis Renewable Energy Secures EBRD Mandate for 270 MW Solar and 72 MWh BESS Project in Serbia

Fortis Renewable Energy BV has signed a mandate letter with the European Bank for Reconstruction and Development (EBRD) for the potential financing of a 270 MWp solar photovoltaic (PV) power plant combined with a 72 MWh battery energy storage system (BESS) in Serbia.

The agreement initiates a structured financing process and due diligence for the provision of long-term debt for the project, which will be located in Sremska Mitrovica, approximately 80 kilometres northwest of Belgrade.

The Sremska Mitrovica project is expected to become the largest solar PV facility in Serbia and among the largest in the Western Balkans. Once operational, it is projected to generate more than 365 GWh of electricity annually—enough to power over 105,000 households—while avoiding approximately 182,000 tonnes of CO₂ emissions each year.

Fortis Energy said the project will add significant renewable capacity to Serbia’s national grid, strengthening long-term energy security and supporting decarbonisation efforts in line with broader European climate and energy policies. The company described the development as a key infrastructure asset contributing to Europe’s green transition and demonstrating the bankability of large-scale solar projects in Southeast Europe under international environmental and social sustainability standards.

Construction is scheduled to begin in the third quarter of 2026, with commissioning targeted for the first quarter of 2028.

Fortis Energy, originally founded in Türkiye and headquartered in the Netherlands, operates regional offices in Istanbul and Belgrade. The company currently manages more than 200 MW of renewable energy assets and is advancing over 500 MW of additional projects planned for 2026–2027 as part of its strategy to become a global green baseload independent power producer (IPP), integrating solar, wind, storage and sustainable infrastructure across Europe.