Fieldwork and technical studies completed by the company personnel, Energoprojekt Hidroinzenjering (Serbia) and Technum-Tractebel Engineering (Belgium), have recommended a capacity increase from 48MW to 55.2MW, defined sites, and provided recommendations for the design of the hydroelectric power plants and preliminary cost estimates for their construction.
The Italian and Serbian governments have signed an agreement whereby Serbia will export green energy into Italy at prices substantially above those of the local market. The company is discussing with various energy trading groups with the intent of signing an indicative power purchasing agreement for the sale of electricity into the Italian market.
The company expects to be able to complete pre-feasibility studies in the next month or two, and feasibility studies by the end of 2010. The company is working in parallel with the local authorities, towards being issued all the necessary permits for relocation of parts of the road along the Lim river, acquisition of surface rights affected by the project, and construction of the hydroelectric installations.
