EBRD ready to finance construction of Serbia’s largest solar power plant with capacity of 270 MWp

Turkey’s Fortis Renewable Energy BV has announced that it has signed a mandate letter with the European Bank for Reconstruction and Development (EBRD) for the potential financing of a 270 MWp solar photovoltaic power plant with a battery energy storage system (BESS) with a capacity of 72 MWh in Serbia.

Let us remind that these are solar capacities with energy storage planned near Sremska Mitrovica, which include the Nocaj 1 and Nocaj 2 projects, as well as a previously acquired 180 MW solar site in the same region.

In early 2026, the entry of the Nocaj 1 solar power plant project near Sremska Mitrovica into the concrete implementation phase was confirmed, after the EPC contract for construction was signed. The Turkish company Kontrolmatik Technologies has been hired to design and build the plant, while its specialized subsidiary Pomega Energy Storage Technologies will provide the battery solution. The current signing of the mandate letter with the EBRD, as announced by the Turkish investor, marks the beginning of the process of structured financing and due diligence necessary to secure long-term debt.

This project is expected to become the largest solar photovoltaic plant in Serbia and one of the largest in the Western Balkans. In addition to its scale, the project represents a significant step forward in strengthening Serbia’s energy security, supporting decarbonization goals and accelerating regional integration with European climate and energy policies, the company said in a statement.

The project will, as stated, add significant renewable capacity to the national grid, strengthening long-term energy security, significantly contribute to regional decarbonization goals as a key infrastructure asset within the European Green Transition, but also demonstrate bankability, proving that large-scale solar projects in Southeast Europe are aligned with international standards of environmental and social sustainability.

– We are particularly pleased to partner with the EBRD, whose continued support for sustainable infrastructure across the Western Balkans plays a vital role in mobilizing private capital, strengthening market stability and advancing the region’s green transition. This cooperation highlights the importance of strong institutional partnerships in the implementation of transformative energy projects – Fortis Energy stated.

The statement says that the start of construction is planned for the third quarter of 2026, while commissioning is expected in the first quarter of 2028.

Let us remind that the Netherlands-based Fortis Energy acquired a 180 MW solar project with a battery energy storage system (BESS) in Sremska Mitrovica in the summer of 2024.

The company stated that it was expected to be one of the largest solar power plants and energy storage systems in Southeast Europe with a capacity of 36 MWh.

The construction of the solar power plant in Sremska Mitrovica was announced in September 2024. Private land on the Macva side, on the road to Drenovac, was designated as the location, and it was said that the construction permit had already been obtained.

The Mayor of Sremska Mitrovica, Branislav Nedimovic, stated that the solar park would be built on 300 hectares of private land in Macva and would have 270 megawatts of installed capacity, which is as much as one fifth of the installed capacity of Djerdap.

– That is why we can say that this will be one of the five largest projects of this kind in Europe – said Nedimovic.

Fortis Energy is already developing three wind farm projects in Serbia – in Jagodina, Petrovac and Vranje, with a total capacity of 481 MW, and also owns five biogas plants with a total capacity of 21 MW.

In May last year, the company also signed a contract for the connection of the planned Erdevik solar park in the municipality of Sid, which borders Sremska Mitrovica. The planned installed capacity is 110 MW, with a BESS system with a capacity of 31.2 MWh.

Source: eKapija