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Reservoir Capital signs 20-year PPA with GDF Suez Energia Italia

12 Jul 2011

Renewable energy firm Reservoir Capital, through its Serbian subsidiary REV, has signed a 20-year power purchase agreement with GDF Suez Energia Italia for the sale of electricity from the Brodarevo hydroelectric project in Serbia.

Under the agreement, electricity generated by the power project will be exported for distribution into the Italian market at prevailing market prices.

GDF Suez Energia Italia has also agreed to purchase and pass on to Reservoir Capital the value of any incentives generated by the project.

The agreement is conditional on completion of at least one of the plants by the end of December 2015 and further agreement between the parties once the arrangements for project financing and transmission are more advanced.