03:49 PM EST - Reservoir Capital Corp. : announced that it has signed a Memorandum of Understanding with Ahmet Caliskan and Burcin Tunca to acquire a 75% interest in a 30.4 megawatt portfolio of six small-scale hydroelectric projects in western and northwestern Turkey. As per the terms of the deal, Reservoir will acquire a 25% interest in the portfolio by providing equity contributions of $1.5 million U.S. payable by the end of March 2010, $2.5 million U.S. payable by the end of May 2010 and $2 million U.S. payable by the end of January 2011. Reservoir will acquire an additional 50% interest in the portfolio (for a total of 75%) for $17 million U.S., which will be paid in stages as the projects are completed and fully operational. Reservoir Capital Corp.
shares V.REO are trading up $0.05 at $0.98.
