Fortis Renewable Energy BV has signed a mandate letter with the European Bank for Reconstruction and Development (EBRD) for the potential financing of the 342 MW (270 MWp solar + 72 MWh storage) Sremska Mitrovica Solar Photovoltaic and Battery Energy Storage System (BESS) Project in Serbia.
The agreement initiates a structured finance process and due diligence for the provision of long-term debt to support the large-scale renewable energy development.
A Flagship Renewable Project in the Western Balkans
Located in Sremska Mitrovica, approximately 80 km northwest of Belgrade, the project is expected to become Serbia’s largest photovoltaic solar installation and one of the largest in the Western Balkans.
Beyond its scale, the project represents a major step in strengthening Serbia’s energy security, advancing decarbonization goals, and aligning the country’s energy framework with broader European climate policies.
The development will integrate:
- 270 MWp photovoltaic solar capacity
- 72 MWh battery energy storage system (BESS)
Together, the hybrid solution is designed to provide grid stability, improve renewable integration, and support long-term resilience of the national energy system.
Environmental and Energy Impact
Once operational, the Sremska Mitrovica project is expected to:
- Generate more than 365 GWh of clean electricity annually
- Supply power to over 105,000 homes per year
- Prevent approximately 182,000 tonnes of CO₂ emissions annually
This emissions reduction is comparable to planting nearly nine million trees each year, underscoring the project’s significance within the European Green Transition.
Construction is scheduled to begin in the third quarter of 2026, with commissioning targeted for the first quarter of 2028.
Strategic Importance and Regional Growth
Sremska Mitrovica, built on the site of the ancient Roman capital of Sirmium, has long served as a strategic gateway between Belgrade and Central Europe. The development of one of the region’s largest solar power plants positions the city as a modern hub for sustainable growth while preserving its historic significance.
Fortis Energy highlighted the importance of collaboration with the EBRD in mobilizing private capital, supporting market stability, and advancing sustainable infrastructure across the Western Balkans. The project is also expected to meet international environmental and social sustainability standards, reinforcing its bankability and long-term viability.
Fortis Energy’s Long-Term Vision
Headquartered in Amsterdam, Fortis Energy is a Turkish-origin renewable energy developer with regional offices in Istanbul (MEA) and Belgrade (CEE). The company currently operates over 200 MW of renewable assets and is advancing more than 500 MW of new investments planned for 2026–2027.
With ambitions to become a global green baseload independent power producer (IPP), Fortis continues integrating solar, wind, energy storage, and sustainable infrastructure across Europe.
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