Correction - Hidroriente to sign El Reventador financing agreements Feb.

In the story "Hidroriente to sign El Reventador financing agreements in Feb." published on Tuesday, December 16, BNamericas misinterpreted comments by the CEO of Ecuadorian engineering company Integral Ingenieros Consultores, Eduardo Villareal, regarding the financing of the US$500mn El Reventador hydro project. The story said that the "Hidroriente consortium plans to sign a US$350mn financing agreement with the Andean Development Corporation (CAF), which is arranging a syndicated loan with international banks." However, the agreement will not be with the CAF directly, rather Hidroriente plans to hire the CAF's investment bank to act as financial advisor in the process to select the best financing offer from among a variety of offers received from international banks. Hidroriente would then sign the financing agreement with the group of banks chosen by CAF's investment bank. The consortium will finance the remainder from US$125mn of its own capital and US$25mn from the Scudder Latin American Power Fund, which will receive an equity interest in the project in return. Hidroriente plans to sign financing agreements in two months.