Reservoir Capital Corp.announces environmental permits granted for the Brodarevo hydroelectic project in Serbia
Friday, Jun 28, 2013
Reservoir Capital Corp. (TSX VENTURE:REO)(FRANKFURT:ROC)(
Energoprojekt Hidroinzenjering Co. Ltd. ("Energoprojekt") completed the EIA in accordance with Serbian standards and legislation in late 2011 and completed additional work during 2012 to bring them in line with World Bank standards. The primary aim of the EIA is to assess the positive and negative changes to the environment that could occur during the construction and operation of the Brodarevo HPP and propose measures to prevent, minimize or reduce to acceptable limits, any adverse impacts. The EIA includes gathering and interpretation of baseline data on the geology, geomorphology, soils, sediment, erosion characteristics, hydrology, air and water quality, meteorology, biodiversity, cultural properties and socio-demographic and economic development aspects of the project.
The EIA concluded that the Brodarevo HPP have a broadly positive impact in that they will generate clean renewable energy substituting coal-fired power, but will make substantial changes to the river valley and its ecosystem. These impacts are considered relatively limited, given the low dam height, small fluctuations in water levels and that the effects are confined to the riverbed and only very small areas of arable land. The construction of spillways will enable the movement and migration of any aquatic organisms and eliminate potential ecological balance disorders. Physical impacts to the local population are confined to a few rural households, with many of whom the Company has already reached agreements. At a broader level the project represents an important milestone in the government's efforts to attract foreign direct investment and should contribute to socio-economic stabilization and economic development of the region through the project investments, new employment generated and new opportunities in areas such as tourism.