Sep 16 2015
Reservoir Capital Corp., ("Reservoir" or the "Company") is pleased to report that is has been granted Location Permits for both the Brodarevo 1 and Brodarevo 2 dam sites, reservoirs and accompanying facilities; the final step prior to applying for the Building Permits.
These Location Permits have been granted based on the conceptual engineering and design documentation filed by the Company for the construction of the dams. The Company, prior to obtaining the Location Permits, obtained positive opinions, approvals and different permits from the following government institutions: EMS Serbia - Serbian Power Transmission Company, Institute for Protection of Cultural Monuments, Public Utility Company Lim Prijepolje, Service for Real Estate Cadaster Prijepolje, Republic Hydro-meteorological Institute of Serbia, Ministry of Energy, Development and Environmental Protection, Ministry of Construction, Traffic and Infrastructure, Public Water Company Srbijavode, Ministry of Agriculture and Environmental Protection, Republic Directorate for Water Management, Ministry of Mining and Energy, Railways of Serbia, Institute for Nature Conservation of Serbia, Ministry of Interior - Sector for Emergency Situations and the Ministry of Defense.
These Location Permits are the last documents needed before being able to apply for the Building Permits. Also, it gives the Company the legal right to start the construction even before obtaining the Building Permit.
The Company already holds a Location Permit for preparatory works for Brodarevo 2 (see Company news release of March 16, 2015), encompassing a temporary river crossing, access road to the upstream coffer dam, site roads on the right river bank, entrance structure with bridge, diversion canal, protective structures and supporting walls, gravity dam on the right river bank, upstream coffer dam, downstream coffer dam and excavated material landfill sites.
About Reservoir
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. Agreements completed with Saxa Gres for the development of new recycling and waste-to-energy businesses near Rome also potentially provides an important new growth business for the Company. Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges (symbol "ROC").