Hidropaute will call for bids for a consultant to update the project's engineering studies, and expects to call for bids for the plant's construction later in 2003. The company plans to invest US$362M in the project.
Mazar hydro plant, located upstream of Hidropaute's 1075MW Molino plant, will regulate the flow in the Paute river, improving power generation at Molino.
Mazar is scheduled for completion by 2007. Ecuador's previous government had awarded the Mazar contract to the Spanish consortium ACS-Cobra-Omegaport in April 2002, which was to eventually merge with Hidropaute. But electricity regulator Conelec cancelled the contract in January 2003, due to legal issues.
