Fortis and EBRD sign mandate for Sremska Mitrovica solar project in Serbia

Fortis Renewable Energy and the EBRD have signed a mandate letter for the potential financing of the Sremska Mitrovica solar power plant (SPP) in Serbia, a significant step towards developing a 270 MW-peak solar PV plant coupled with a 72 MWh battery energy storage system (BESS). This mandate initiates structured financing and due diligence, paving the way for long-term debt financing. Construction is slated to begin in Q3 2026, with commissioning expected by Q1 2028. The project underscores a commitment to enhancing Serbia's energy security and aligning with broader European climate and energy policies. The Sremska Mitrovica SPP represents a substantial investment in renewable energy infrastructure within Serbia. The involvement of the EBRD, a prominent multilateral development bank, lends credibility and financial backing to the project. The integration of battery storage alongside solar PV is particularly noteworthy, as it addresses intermittency issues and enhances grid stability. This project is indicative of a growing trend towards hybrid renewable energy solutions in the region, aiming to provide reliable and sustainable power.