|February 07, 2012|
Brodarevo Projects Included in the Serbia-Italy Bilateral Agreement on Renewable Energy
|Vancouver, British Columbia (TSX Venture: REO) - Reservoir Capital Corp. ("Reservoir" or the "Company") is pleased to report that it has received a formal confirmation from the Ministry of Infrastructure and Energy of the Republic of Serbia, that the Company's Brodarevo-1 and Brodarevo-2 hydroelectric projects have been included into the Bilateral Agreement on Renewable Energy with the Italian Government. Under the terms of this agreement all renewable energy produced in the approved projects in Serbia and exported to Italy will have a guaranteed production price of €155 per megawatt hour for the 15-year term of the agreement.|
Miljana Vidovic, President and CEO of Reservoir commented: "This is an important step in confirming the viability of these projects and takes the Company another step closer to completing their development."
Reservoir is a renewable energy company that is engaged in the development of a 58.4 MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir holds four geothermal exploration licenses in Serbia and has applied for three hydroelectric concessions on the Cehotina River in Bosnia (17.75 MW). Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges (symbol "ROC").
For further information on Reservoir Capital Corp., please consult the Company's website www.reservoircapitalcorp.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
You can view the Next News item: Wed Feb 8, 2012, Reservoir Capital Appoints Lewis Reford as Lead Director
You can view the Previous News item: Mon Jan 30, 2012, Reservoir Granted Three-Year Extensions for Brodarevo Energy Permits
You can return to the main News page, or press the Back button on your browser.