To be located on the Lim River, the Brodarevo 2 hydroelectric project will have an installed capacity of around 33.1MW.
The one-year permit will allow the company to undertake preparatory work such as construction of a temporary passage over the river, site access roads and river diversion.
Reservoir president and CEO Miljana Vidovic said: "The Location Permit for Brodarevo 2 is very important, as it allows for construction work to begin as we await the building permit for the dam and power plant.
"This is a vote of confidence in Reservoir from the Serbian Government to build the first green-field Hydro Project over 10 MW’s in over 40 years."
Energoprojekt Hidroinzenjering has completed a feasibility study for both the Brodarevo 1 & 2 projects in 2012.
The two designed are estiamted to receive an average installed flow of 150 cubic metres per second.
In October 2014, Reservoir signed a letter of intent with Italy-based Inergia to conduct due dilligence of the Serbian project. Due diligence may lead Inergia to buy and construct the plant.
