Fortis Renewable Energy has signed a mandate letter with the European Bank for Reconstruction and Development for potential financing of the 270MWp Sremska Mitrovica solar plant and 72MWh storage system in Serbia.
The agreement begins a structured financing process and due diligence for long-term debt provision, said Fortis Energy.
The project is expected to become Serbia’s largest solar facility and a major milestone for regional energy security and decarbonisation, stated the company.
Fortis Energy said the development will add substantial renewable capacity to the national grid and support alignment with European climate and energy policies.
The company added that the scheme demonstrates the bankability of large-scale solar in Southeast Europe and underscores the importance of partnering with the EBRD.
Sremska Mitrovica lies around 80 kilometres northwest of Belgrade and will host one of the largest solar projects in the Western Balkans.
The project is expected to generate more than 365GWh of electricity annually and avoid about 182,000 tonnes of CO₂ emissions.
Construction is planned to start in the third quarter of 2026 with commissioning targeted for the first quarter of 2028.