The company, which is a wholly-owned subsidiary of Canadian firm Reservoir Capital Corp, is hoping to build two plants – Brodarevo 1 & 2 – on the river Lim in the south west of Serbia.

The parent group said that the project sites were the subject of technical studies in the 1980s. last year, it undertook a country-wide assessment of hydropower potential in the country.

If granted, the energy licences for the run-of river plants would give REV two years to complete detailed feasibility studies, purchase power agreements (PPAs), permitting and arrange project finance.

Reservoir capital said it is focused on energy development solely in Serbia, where almost a third of the generating capacity is hydropower.