Turkish independent power producer (IPP) Fortis Energy has signed a mandate letter with the European Bank for Reconstruction and Development (EBRD) to explore financing for a 270MW solar-plus-storage project in Serbia.
According to the IPP, the agreement marks the beginning of a structured financing process and the requisite due diligence for long-term debt provision.
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Located in Sremska Mitrovica, northeastern Serbia, the project of the same name will combine the 270MW solar PV with a 72MWh battery energy storage system (BESS).
The project is expected to begin construction later this year, in the third quarter, while commissioning of the solar-plus-storage project is targeted for Q1 2028. Once operational, it is expected to be one of the largest solar PV plants in Serbia and in the Western Balkans, according to the company.
Fortis acquired the Sremska Mitrovica project from an unnamed party in 2024 and, more recently, secured the construction permit for the solar-plus-storage plant.
Once operational, the solar-plus-storage project will substantially expand the Turkish IPP’s operational portfolio, which currently comprises more than 200MW of renewable energy assets, according to Fortis Energy.
The company is also moving forward with over 500MW of new investments planned for this year and the next.
In the nearby country of Albania, the company recently invited engineering, procurement and construction (EPC) providers to bid on the construction of its Ersekë Solar Power Plant. The solar-plus-storage project combines 75MW of solar PV with a 25MWh BESS. Also in the region, the company is developing a 170MW solar PV plant in Kosovo.
