The government of the Republika Srpska (an autonomous region of Bosnia and Herzegovina) has granted REV d.o.o. Foca, a subsidiary of Reservoir Capital Corp., a 30-year concession to develop and build three small hydroelectric facilities on the Cehotina River.
The three run-of-river plants will have a combined capacity of 17.76 MW and projected output of 69.61 GWh/year.
“We’re very pleased to have obtained concessions for our first projects in Bosnia and to have further expanded our pipeline of renewable energy projects,” says Miljana Vidovic, president and chief executive officer of Reservoir Capital. “We believe the estimated capacity factor of 56% for the Cehotina projects makes them a compelling development opportunity.”
The river has an elevation drop of 114 meters and median flow rates ranging from 20 to 23 cubic meters per second over the 26-km section covered by the concessions. The total natural energy capacity for this section of the river is 24 MW. ENCOS Energy Consulting Services D.o.o. of Sarajevo designed three power plants to capture this potential: 4.85-MW Luke, 9.262-MW Falovici and 3,649-MW Godijeno.
The Cehotina project is located close to the company’s flagship 59.1-MW Brodarevo project in Serbia and to the new transmission infrastructure being constructed to better connect the Bosnian and Serbian grids with the Montenegrin coast and Italy.
ENCOS estimates the three projects will cost about $48 million to develop and construct.
Under the terms of the concession agreement, REV will pay a 3% gross revenue fee to the government of Republika Srpska.
Reservoir Capital is based in Vancouver, British Columbia, Canada. In 2011, the company formed a new subsidiary in Italy, Renewable Energy Ventures Italia S.r.l., to, among other things, support development of the country’s hydroelectric projects in Serbia and the region.