Serbia: Reservoir Canada gets location permit for its 33MW Brodarevo 2

25. March 2015. / News Serbia Energy

 

Ministry of Energy granted the Location Permit for the Reservoir Company’s 33.1 Megawatt (“MW”) Brodarevo 2 hydroelectric project on the Lim River in southwest Serbia.

The permit is valid for one year and allows the Company to undertake preparatory work on the project, encompassing the temporary passage over the river, site access roads and river diversion.

Miljana Vidovic, President and CEO of Reservoir commented: “The Location Permit for Brodarevo 2 is very important, as it allows for construction work to begin as we await the building permit for the dam and power plant. This is a vote of confidence in Reservoir from the Serbian Government to build the first green-field Hydro Project over 10 MW’s in over 40 years.”

Energoprojekt Hidroinzenjering Co. Ltd. (“Energoprojekt”) completed a Feasibility Study for both the Brodarevo 1 & 2 projects in 2012, each designed with an average installed flow of 150 cubic metres per second .The Company, through its partners in Italy, is engaged in discussions with a number of Italian and international groups, to secure finance, construction and operating partners to advance the project to completion.

Reservoir is a renewable energy company engaged in the development of a 59.1 MW hydroelectric project at Brodarevo on the River Lim, the Vranjska Banja geothermal project, both in southern Serbia. The recently completed agreements with Saxa Gres also provide an important new growth business for the Company in the well-regulated Italian market. Reservoir’s common shares trade on the TSX Venture Exchange (symbol “REO”) and on the Frankfurt and Berlin Exchanges (symbol “ROC”).

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