News

Capital addition for Brodarevo HPP with talks on sale

Published

October 13, 2015

Comments

0

Share

Published:

October 13, 2015

Comments:

0

Share

Reservoir Capital Corp. said it intends to undertake a private placement to raise CAD 1 million (EUR 680,000) through the issue of two million units at EUR 0.34 each. The Canadian renewable energy company is engaged in the development of a 59.1 MW hydroelectric project at Brodarevo on the River Lim in southern Serbia. On October 8 it said it signed a letter of intent with Milan-based utility A2A SpA to initiate exclusive negotiations and due diligence on the project.

The company seeks a partner to support the development and the construction of the Brodarevo HPP. Reservoir said it entered into more detailed negotiations with A2A, which invested EUR 436 million in 2009 to acquire 43.7% of Montenegro’s utility EPCG, operating various hydroelectric projects that lie in close proximity to Brodarevo.

In the private placement, each unit shall comprise of one common share in the capital of Reservoir and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of 375 euro cents per share for a period of five years.

Related Articles

matija medojevic mepx CEO belen montenegro power exchange

Montenegrin Power Exchange – road to EU

25 September 2023 - MEPX is working to fulfill the conditions for obtaining the NEMO status, CEO Matija Medojević told Balkan Green Energy News in an interview

WISE Serbia Women leaders of energy transition myth reality

WISE Serbia: Women leaders of energy transition are no myth but reality

25 September 2023 - The conference Women of Serbia in Sustainable Energy – Leadership for the Energy Transition was organized by the WISE Serbia women's network

Central, Eastern Europe severely lagging in smart meters rollout

Central, Eastern Europe severely lagging in smart meters rollout

25 September 2023 - Smart meters are a vital part of the modern power grid, as they facilitate energy saving, demand response and numerous other applications

Eurelectric-Europe-attract-unprecedented-investments-grid-expansion

Eurelectric: Europe must attract unprecedented investments in grid expansion

22 September 2023 - After a period of historic hardship, the electricity sector in Europe showed several positive trends, according to Eurelectric.