dam Studen Kladenets is the third largest reservoir by volume in Bulgaria after Iskar Dam and Kardzhali Dam. It is situated on the river Arda, and is created behind the Studen Kladenets dam, 30 km south-east of the town of Kardzhali. There are another two dams of the Arda - Kardzhali Dam to the west (upstream) and Ivaylovgrad Dam to the east (downstream).