Fortis Renewable Energy BV has initiated a significant step in the renewable energy sector by signing a mandate letter with the European Bank for Reconstruction and Development (EBRD). This partnership aims to facilitate the financing of a 270 MWp solar photovoltaic (PV) power plant, complemented by a 72 MWh battery energy storage system (BESS) in Sremska Mitrovica, Serbia. This agreement signals the start of a structured financing process and necessary due diligence for long-term debt provision.
The Sremska Mitrovica project is poised to become the largest solar PV facility in Serbia and ranks among the largest in the Western Balkans. Its development is expected to significantly enhance energy security in Serbia while supporting national decarbonization efforts and aligning with European climate policies. The scale of this project underscores its importance as a critical infrastructure asset within Europe’s ongoing Green Transition.
According to Fortis Energy, this initiative will contribute substantial renewable capacity to Serbia’s national grid, thereby reinforcing long-term energy security and aiding regional decarbonization goals. The project exemplifies bankability, demonstrating that large-scale solar developments can meet international environmental and social sustainability standards. Fortis Energy emphasized the strategic importance of collaborating with EBRD, which plays a vital role in supporting sustainable infrastructure throughout the Western Balkans by mobilizing private capital and enhancing market stability.
Geographically, Sremska Mitrovica is situated approximately 80 km northwest of Belgrade and holds historical significance as it was built on the site of Sirmium, an important center during the late Roman Empire. This region is now entering a transformative phase as it develops one of the largest solar power plants in Serbia, thus contributing to national energy security while positioning Sremska Mitrovica as a hub for sustainable growth.
The solar project is projected to generate over 365 GWh of clean electricity annually, which is sufficient to power more than 105,000 households each year. Additionally, it is expected to prevent approximately 182,000 tons of CO₂ emissions annually—an environmental impact equivalent to planting nearly 9 million trees each year. Construction is slated to begin in Q3 2026, with commissioning anticipated for Q1 2028.
Fortis Energy, which originated from Türkiye and is headquartered in the Netherlands, operates regional offices in Istanbul and Belgrade. The company aims to establish itself as a global Green Baseload Independent Power Producer (IPP), focusing on integrating solar, wind, energy storage, and sustainable infrastructure across Europe. Currently, Fortis operates over 200 MW of renewable assets and has plans for more than 500 MW of new investments scheduled for 2026–2027.
