The Canadian company aims, through its wholly owned subsidiary REV, to generate 45GWh of electricity per year from the new plant at Vrutci dam on the Djetinja river. The 77m high double curvature concrete arch dam was built 25 years ago.
Pre-feasibility studies for Reservoir Capital’s first two projects are underway with the help of local consultant Energoprojekt Hydroinzenjering Co Ltd (EHC). The proposed run-of-river projects – Brodarevo 1 and 2 – have a total capacity of 48MW but may be stepped up.
The two projects are being developed in conjunction with French firm Global EcoPower, which is providing financial support that would permit it to acquire an equity stake in REV.
Reservoir Capital recently appointed former Electrobel executive Alain Dumont to be a consultant and advisor, and initial work will focus on the Brodarevo scheme.
REV recently opened a branch office in Bosnia and Herzegovina to explore possible hydro project development in the area.
In July, Reservoir capital announced it was arranging Can5M (US$4.6M) of fundraising through non-brokered private placement.
