Ecuador Government Advances Zamora Hydroelectric Complex

Friday, Nov 14, 2008

Corriente Resources Inc. Ecuadors Ministry of Electricity and Renewable Energy has issued a bid tender for the feasibility study and detailed design of the Zamora Hydroelectric Complex located in the Zamora River in southeast Ecuador. The bid tender was launched in a ceremony attended by the Minister of Electricity and Renewable Energy, Alecksey Mosquera, the Sub-Secretary of Projects, Julio Gordon, and the Mayor of the Canton of San Juan Bosco, Leonardo Molina.

The State has earmarked 40 million dollars to complete the design of the complex which consists of a series of projects located 90% within the province of Morona Santiago and totaling over 4,000 MW of hydroelectric potential. For scale, the current installed capacity in Ecuador is approximately 4,000 MW.

One of the most important sites in the complex is the 1,200 MW San Juan Bosco project located just 6 kilometers south of the companys Panantza - San Carlos copper deposits. Access road construction to the site is scheduled to begin in January 2009. Current plans call for the start of operation in 2015.

Ken Shannon, Corrientes CEO, commented, ""The development of such hydroelectric power projects indicates that President Correa and his Administration are committed to facilitating nation-building infrastructure for the benefit of all Ecuadorians.