Posted: Tuesday, October 21, 2025. 6:41 am CST.
By Breaking Belize News Staff (HP): Lead Opposition Senator Patrick Faber has challenged the Government’s decision to spend US $110 million on the acquisition of Fortis Belize’s hydroelectric plants and its 33.3 percent shareholding in Belize Electricity Limited (BEL), calling the move “a costly symbol dressed as patriotism.”
In a detailed statement released this week, Faber argued that the Belize Electricity Investments Bill, 2025, which finances the purchase, places significant debt burdens on taxpayers without delivering new benefits. He contends that Belize “is borrowing heavily for assets it already controlled” under existing agreements with Fortis Belize.
The Senator criticized what he described as a lack of transparency and public scrutiny, noting that the Bill raises borrowing limits and draws directly from the Consolidated Revenue Fund. Faber warned that the new debt will carry interest “for years to come” and compete with private borrowers for available domestic financing.
He also questioned the condition of the hydro facilities, claiming government inspections show that Mollejon, Chalillo, and Vaca are aging and will require millions in maintenance to remain operational.
Faber added that climate risks and declining rainfall threaten the long-term viability of the dams, and that the agreement’s clauses, subject to English law and arbitration in Miami, undermine claims of sovereignty.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtіng@brеаkіngbеlіzеnеwѕ.соm or call us at 501-612-0315.
© 2025, BreakingBelizeNews.com. Content is copyrighted and requires written permission for reprinting in online or print media. Theft of content without permission/payment is punishable by law.
The post Faber warns taxpayers will bear cost of Fortis Belize purchase for years appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Tuesday, October 21, 2025. 6:41 am CST. By Breaking Belize News Staff (HP): Lead Opposition Senator Patrick Faber has challenged the Government’s decision to spend
The post Faber warns taxpayers will bear cost of Fortis Belize purchase for years appeared first on Belize News and Opinion on www.breakingbelizenews.com.
