Canada's Reservoir Capital Ecology Study for Serbian Hydro Project Due in Late 2011

BELGRADE (Serbia), May 11 (SeeNews) – Canadian renewable energy company Reservoir Capital said the environmental studies for its 58.4 megawatt Brodarevo hydro power project in Serbia should be completed in late 2011.

One of the studies takes into account Serbian standards and legislation while the second one, being conducted in parallel, is in accordance with World Bank guidelines, Reservoir Capital said in a press release on Tuesday.

Reservoir Capital has engaged Serbia's Energoprojekt Hidroinzenjering to prepare feasibility studies for both the Brodarevo 1 and Brodarevo 2 dams and power plants, to be located on the river Lim, in southwest Serbia. These studies, as well as the various related studies being carried out under Energoprojekt's supervision, are underway.

Earlier this year, Reservoir Capital received a one-year extension of the Brodarevo energy permits through January 2012 from the Serbian Ministry of Mines and Energy.

Serbia's State Audit Commission has approved the Brodarevo pre-feasibility studies and the company intends to apply for a building permit once the feasibility studies are delivered to the relevant authorities, the statement said.

In addition to its Brodarevo hydro power project, Reservoir Capital (www.reservoircapitalcorp.com) holds four geothermal exploration licenses in Serbia and has applied for three hydroelectric licences on the Cehotina river in Bosnia and one to develop a 32 megawatt project from an existing water reservoir at Vrutci in Serbia.

The Vancouver-based company also holds a portfolio of eight precious and base metal exploration properties in Serbia that, subject to approvals, are to be spun-out into a separately listed company.

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