Miljana Vidovic, President and CEO of Reservoir commented: "These extensions are a very important vote of confidence in Reservoir from the Serbian Government and ensure we have the time to complete our Feasibility Studies, permitting and project finance in an orderly manner."
Reservoir's consultants, Energoprojekt Hidroinzenjering Co. Ltd. ("Energoprojekt") are completing feasibility studies for the construction of two low-head run-of-river hydroelectric projects Brodarevo-1 (26 MW) and Brodarevo-2 (32.4 MW), each designed with three turbines for an average installed flow of 150 cubic metres per second and four spillways with surface and submerged overflows capable of passing through much larger amounts of water. The main design studies for the river diversion that will need to be completed to make space for the dam construction are scheduled for completion in February. Separate Feasibility Studies for the relocation of two sections of the M-21 highway affected by the Brodarevo Projects are also nearing completion.
Quality Control
Deputy Director of the Company's operating subsidiary REV d.o.o., Milan Cusic M.Sc. Dipl. Eng., a graduate of the Faculty of Mechanical Engineering of the University of Belgrade (1997) and previously Chief Hydro Engineer for Serbian State Utility EPS (2003-2010), is responsible for the preparation of the technical information in this release.
About Reservoir
Reservoir is a renewable energy company that is engaged in the development of a 58.4 MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir holds four geothermal exploration licenses in Serbia and has applied for three hydroelectric concessions on the Cehotina River in Bosnia (17.75 MW). Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges (symbol "ROC").
For further information on Reservoir Capital Corp., please consult the Company's website www.reservoircapitalcorp.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.
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Neither the TSX Venture Exchange nor the Investment
Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this
release.
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