Under the agreement, Inergia will conduct due diligence following which Inergia may choose to acquire all or part of the project and complete construction.
In 2012, Reservoir performed positive feasibility studies for the Brodarevo hydroelectric projects.
Reservoir has been working to conclude agreements with the Serbian government for use of government-owned land affected by the project.
Additionally, the company is seeking ratification of the bilateral agreement on energy between the Italy and Serbia governments in order to secure a feed-in-tariff for the power to be produced from the projects.
Inergia, a part of the Santarelli Group, develops, builds, owns and operates renewable power plants in Italy, the Balkans and Turkey, and has installed operating base of 148.6MW and annual production of approximately 300GW hours of electricity.
