Reservoir Capital Corp. reported positive development in construction permitting for its Brodarevo hydroelectric projects. The company said it has been engaged in the updating of documentation in recent months to comply with changes to Serbia’s planning and construction laws introduced earlier in the year. In recent weeks, Reservoir secured positive opinions regarding the issue of building permits from a number of key state-controlled institutions.
There was a positive opinion on the project for the construction of the first phase for hydropower plant Brodarevo 2, by the State Audit Committee, and a positive technical review by the Faculty of Civil Engineering in Belgrade, which holds the state license. There was a decision by the Institute for Nature Conservation of Serbia to allow the construction of two road tunnels and the relocation of the main M21 highway.
Reservoir is a renewable energy company engaged in the development of a 59.1 MW hydroelectric project at Brodarevo on the River Lim, and the Vranjska Banja geothermal project, both in southern Serbia, the press release said.
The company said it secured several positive opinions from relevant authorities for the projects on Lim river in May.