Posted: Saturday, October 18, 2025. 7:27 am CST.
By Breaking Belize News Staff (HP): Belize’s $256 million acquisition of Fortis Inc.’s hydro power plants and 33% stake in the Belize Electricity Limited (BEL) is being described as both a patriotic achievement and a calculated financial investment. The move marks the full return of the nation’s hydroelectric assets into Belizean hands after decades of foreign control, ensuring that profits from the country’s natural resources stay within its economy.
Prime Minister John Briceño stated that the government’s financing strategy will rely primarily on domestic mechanisms designed to keep the funds circulating within the local financial system. Although full details of the financing model have not yet been disclosed, senior officials have indicated that the acquisition will be funded through a combination of government-backed loans, strategic use of BEL dividends, and projected revenues from the hydro facilities themselves.
The hydro power plants, which have consistently yielded significant profits under Fortis, are expected to generate sufficient income to cover repayment obligations over time. Prime Minister Briceño has assured Belizeans that the acquisition represents “a safe investment,” emphasizing that Hydro Belize, the new name for the state-owned company, will continue to produce returns that surpass those achieved over the past decade.
In his address to the House of Representatives, Prime Minister Briceño said:
“The hydro plants powered by Belizean waters is returning to Belizean ownership so that Belizean shareholders will benefit on the electrical power profits it generates. From the standpoint of energy security, the standpoint of national security, the standpoint of having local control over the electrical power necessary for our livelihoods and our economy, these acquisitions, and in particular the hydro power plant acquisition is a monumental gain for Belize and Belizean.”
He further announced that the government will name the newly acquired entity Hydro Belize, and that it will retain the experienced Belizean staff who were trained and managed under Fortis. Ambassador Lynn Yong will serve as the interim chairman of Hydro Belize.
One of the key financial benefits of the acquisition will be the elimination of the 1.5% annual contractual increase previously applied by Fortis. This adjustment, according to the Prime Minister, will save BEL and its customers an estimated $46 million between 2025 and 2060.
Moreover, the Briceño Administration plans to reinvest profits and dividends from both the hydro plants and BEL shares directly into the Belizean economy. This move is expected to expand the pool of domestic resources available for savings, investment, and economic growth.
“Another important benefit of these acquisitions is that going forward, profits and dividends from the hydro plants and from the BEL shares will remain in Belize, expanding the pool of resources available for savings and investments,” Briceño added.
Over the last seven years alone, approximately $300 million in profits and dividends were repatriated abroad under Fortis’ ownership. The government now intends to redirect these funds to remain in Belize, fueling local economic development.
Prime Minister Briceño also used the opportunity to encourage Belizeans to invest in the nation’s growing energy sector.
“I would like to take the opportunity to appeal to Belizeans that this is a good investment. It’s a safe investment. And I advise you all to invest. At the bank, you get 1 or 2 percent, but this is estimated to yield anywhere between 12 and 14 percent annually.”
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The post Government outlines financing plan for $256M Fortis acquisition appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Saturday, October 18, 2025. 7:27 am CST. By Breaking Belize News Staff (HP): Belize’s $256 million acquisition of Fortis Inc.’s hydro power plants and 33%
The post Government outlines financing plan for $256M Fortis acquisition appeared first on Belize News and Opinion on www.breakingbelizenews.com.
