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Market: TSX-V
Sector: Renewable Energy
Epic: TSX-V:REO
News: Latest news
Web Site: Reservoir Capital Corp
Other Articles: 17-03-201017-03-200916-12-2008 
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Reservoir Capital Corp

Reservoir Capital Corp

Reservoir Capital Corp is a mineral exploration company with interest in Serbia, and has also applied for hydro-electric power developments in the country.

 

Wednesday, March 17, 2010

Reservoir Capital and Torno Global sign letter of intent to develop hydroelectric plants in Serbia

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Reservoir Capital (TSX-V:REO)(ETR:ROC) has inked a Framework Letter of Intent (LOI) with Torno Global Contracting (“Torno”) to “support” the development of its proposed hydroelectric power plants in south-west Serbia. 


Reservoir Capital said it was nearing completion of prefeasibility studies for the 55MW Brodarevo 1 and 2 projects, and that it would be looking to jointly develop the plants with the Milan based contractor.


The LOI envisages Torno acquiring a 20% equity stake in the two projects and acting as general contractor for their development. Torno will also assist Reservoir Capital in securing permitting, project finance and purchase power agreements.


“Reservoir and Torno also plan to work together on the Company's nearby Vrutci hydropower project and to jointly target the acquisition and development of several hundred megawatts of primarily hydroelectric projects in the region by 2015,” Reservoir stated.


Torno is one of Italy's leading construction and infrastructure companies, and has built over 150 dams across the globe.

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