Fortis Renewable Energy BV, based in Amsterdam, secured a mandate letter from the EBRD outlining preliminary terms for long-term financing. The agreement launches due diligence and structured talks for the Sremska Mitrovica solar plant, located on private land south of the Sava River toward Drenovac village in Serbia’s Mačva district, west of Belgrade.

Signatories included Fortis Energy President Mehmet Burak Üçkardeş, EBRD Sustainable Infrastructure Group Managing Director Harry Boyd-Carpenter, and Fortis Executive Vice President Nikola Oklobdžija. The plant promises over 365 GWh of annual clean electricity, enough for more than 105,000 households, while cutting roughly 182,000 tons of CO2 emissions yearly, according to company estimates.

“The project will add substantial renewable capacity to the national grid, strengthening long-term energy security while contributing to regional decarbonization goals,” Fortis Energy said in a statement. It positions the facility as a key asset in Europe’s green transition and proof of bankability for large-scale solar in Southeast Europe.

Construction kicks off in Q3 2024, with commissioning planned for Q1 2028. Fortis operates over 200 MW of renewables already and has more than 500 MW slated for 2026 and 2027. The Dutch firm, with offices in Istanbul and Belgrade, aims to build a global green baseload portfolio blending solar, wind, storage, and sustainable infrastructure.

Turkish firm Kontrolmatik Technologies inked an engineering, procurement, and construction contract in early January for the project’s first phase, Noćaj 1. That segment covers 135 MW solar capacity, a 90 MW grid link, and 36 MWh storage. Kontrolmatik’s Pomega Energy Storage Technologies unit will handle the batteries; the company produces cells and modules in Polatlı, Ankara province.

Fortis also tapped Kontrolmatik for batteries at its Oslomej PV plant, North Macedonia’s largest. The company handles its own EPC work too. Nearby, Fortis preps a 100 MW hybrid plant in Erdevik, with 74 MW grid connection and 30 MWh storage.

In Albania, Fortis broke ground late last year on a 75 MW solar plant in Erseka, featuring 62 MW grid capacity and 25 MWh storage.