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Fortis Energy and EBRD sign mandate letter

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Energy Global,

Fortis Renewable Energy BV has announced the signing of a mandate letter with the European Bank for Reconstruction and Development for the potential financing of a 270 MWp solar photovoltaic (PV) power plant with a 72 MWh battery energy storage system (BESS) in Serbia. The signing of the mandate letter marks the commencement of the structured financing process and due diligence required for long-term debt provision.

This landmark project is expected to become the largest solar PV facility in Serbia and one of the largest in the Western Balkans. Beyond its scale, the project represents a significant step forward in strengthening Serbia’s energy security, supporting decarbonisation goals and accelerating regional integration with European climate and energy policies.

The project will:

  • Add substantial renewable capacity to the national grid, strengthening long-term energy security.
  • Contribute meaningfully to regional decarbonisation goals as a critical infrastructure asset within Europe’s Green Transition.
  • Demonstrate bankability, proving that large scale solar in Southeast Europe aligns with international environmental and social sustainability standards.

The company is especially pleased to partner with EBRD, whose continued support for sustainable infrastructure across the Western Balkans plays a vital role in mobilising private capital, enhancing market stability and advancing the region’s green transition. This collaboration underscores the importance of strong institutional partnerships in delivering transformative energy projects.

Construction is planned to commence in 3Q26, with commissioning targeted for 1Q28.

 

 

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Read the article online at: https://www.energyglobal.com/electric-hybrid/20022026/fortis-energy-and-ebrd-sign-mandate-letter/

 
 

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