Posted: Thursday, October 16, 2025. 1:34 pm CST.
By Aaron Humes: This morning, the Government of Belize announced it has reached an agreement with Fortis Inc. of Canada to purchase the company’s electricity sector assets in Belize. The deal includes the acquisition of three hydroelectric power plants and Fortis’s 33.3 percent shareholding in Belize Electricity Limited (BEL). Further details are to be announced at Friday’s meeting of the House of Representatives in Belmopan.
Among the acquisitions are the Mollejon Plant, a 25-megawatt plant located on the Macal River, commissioned in 1996; the Chalillo Plant, a 7-megawatt plant located on the Macal River, commissioned in 2005; and the Vaca Plant, a 19-megawatt plant located on the Macal River, commissioned in 2010. These plants generate over one-third of the total electric power consumed annually by Belizeans.
Belizean ownership of the plants is expected to keep the company’s future profits locally. The Government intends to eliminate annual increases in the cost of power sold by the hydro plants to BEL, providing a significant benefit for all consumers.
The Government says it will source the funding for the acquisitions through a special budgetary appropriation, expecting to complete the transactions by November 15. A secondary domestic offering of equity and debt will be pursued to recover the initial acquisition costs.
The new Hydro Belize Limited will be led by current Fortis Belize CEO Kay Menzies, with an entirely Belizean team of 48 staff members. The Government’s Interim Board for Hydro Belize will be chaired by Ambassador Lynn Young, former BEL CEO.
“Fortis congratulates the Government of Belize on the agreement to purchase Fortis Belize’s hydroelectric assets,” said David Hutchens, President and CEO of Fortis Inc. “We have been operating in the country since 1999 and are proud of the performance of our investments and our partnership with the Government.”
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The post Government of Belize confirms planned acquisition of hydro power plants and BEL shares from Fortis Inc. appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Thursday, October 16, 2025. 1:34 pm CST. By Aaron Humes: This morning, the Government of Belize announced it has reached an agreement with Fortis Inc.
The post Government of Belize confirms planned acquisition of hydro power plants and BEL shares from Fortis Inc. appeared first on Belize News and Opinion on www.breakingbelizenews.com.
