Canada's Reservoir Capital Corporation Granted Planning Permission for Serbian Hydro Project

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Researched by Industrial Info Resources Europe (Galway, Ireland)--The government of Serbia has approved plans for Reservoir Capital Corporation's (TSV:REO) (Vancouver, British Columbia) Brodarevo 1 and 2 run-of-river hydroelectric projects and related infrastructure on the River Lim in southwest Serbia.

The Brodarevo 1 project covers the River Lim, upstream of Brodarevo to the Montenegro border. It will have a total capacity of 26 megawatts (MW) delivered via one 8-MW and two 9-MW Kaplan turbines. The Brodarevo 2 project, with a capacity of 32.4-MW, covers the River Lim downriver of the town of Brodarevo, to the Bosnian border and will have three 10.8-MW Kaplan turbines.

Reservoir Capital Corporation is a Canadian public company whose operations are focused in Serbia with a mandate to acquire and develop natural resource opportunities in Serbia and Southeast Europe. Miljana Vidovic, the president and CEO of Reservoir, said: "This is an important step for the company, and we are very pleased to have had our designs for the Brodarevo projects approved both locally and by the Serbian government."

In June 2011, Reservoir completed a power purchase agreement with GDF Suez Energia Italia S.p.A. a wholly-owned subsidiary of the GDF Suez Group (PINK:GDFZY) (Paris, France) to buy power from Brodarevo for export and distribution into the Italian market at prevailing market prices and pass on to Reservoir the value of any incentives generated by the project.

Reservoir currently has a development pipeline of 108 MW of hydro projects in Serbia and Bosnia, other Serbian projects include the 32.9-MW Vrutci peaking hydropower plant and the three Cehotina small hydro projects. In Bosnia, three run-of-river projects are planned: Luke (5 MW); Falovici (9 MW) and Godijeno (3.75 MW).

Hydro is not the only renewable energy that reservoir is investing in, it also holds three geothermal exploration licenses in the Vojvodina province in northern Serbia and two existing geothermal wells in Vranjska Banja, in southern Serbia.

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