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In August, Ende and consultancy group Tecsult-Aecom signed the contract for the final design work.
Tecsult-Aecom has submitted a first report in which they recommended that economic feasibility studies be carried out, the official said. A decision has yet to be made whether the group will carry out this additional work.
Calls for bids to carry out project components will depend on financing, the official added. Options include carrying out Cachuela Esperanza via an EPC contract or a JV.
Potential project sites include locations on the Beni, Madera and Mamoré rivers.
The project's estimated price tag is US$1.5bn and was declared a national priority 25 years ago. Cachuela Esperanza would supply Bolivia's Amazon region and could export surplus power.