Yes.
I use an 8 rib serp belt. I got a 102 inch belt, and it slaps around until it comes off a couple of ribs, then rides the higher edge of the driven pulley.
I was thinking of using a self tensioning idler pulley, or using a 12v alternator with a tension spring?
Anyway, the generator will be mounted closer to the engine, either by using a shorter belt, or a tension system.
The problem is efficiency. Any parasitic load should be avoided. We use thermosyphon cooling to avoid waterpump loads, and keep the oil level lower than the connecting rod cap (but high enough for the dipper). A tension pulley has some drag. How much? Less than an alternator (which has a fan).
Also I will reduce the .062" cranksaft end float, to the .005 recomended. That should help keep the belt on too.
Ideal solution is no idler like Mike's. If the belt works without adjusting between oil changes / maintenance shutdowns, then it's probably good enough?