Posted: Friday, October 17, 2025. 9:11 pm CST.
By Aaron Humes: Prime Minister John Briceño announced Thursday that Belize is on the verge of finalizing a historic acquisition of three Macal River hydro plants — Mollejon, Chalillo, and Vaca – which power over a third of the country’s electricity needs.
In a briefing with reporters, the Prime Minister shared insights into recent developments: “Not to go into great details but in May of this year, Fortis, along with the Vice President and potential new owner, came to see me. They were planning to sell Fortis Belize to a company out of Honduras. After, I called the Vice President privately and expressed my disappointment that the company hadn’t spoken to us first about ownership changes before selling to another group. He apologized and explained that while it’s part of their strategy to exit some Caribbean markets, including Cayman and Turks and Caicos, they started discussions with this group for Belize.”
The Prime Minister noted that following that discussion, Belize swiftly engaged in earnest negotiations: “We have been in negotiations since May, and I am very happy to announce that we have already dotted all the I’s and crossed the T’s. We are now at the point of going to the National Assembly tomorrow for approval to make the purchase.”
The acquisition will be funded through a special budgetary allocation, with plans to conclude the deal by November 15. The government intends to recover costs through a domestic equity and debt offering. Contract terms for Mollejon and Chalillo extend to 2050, while Vaca’s contract runs until 2060.
Financial details will be officially revealed when the legislation is presented to Parliament.
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The post Prime Minister: BEL/Fortis acquisition avoided sellout to Honduras company appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Friday, October 17, 2025. 9:11 pm CST. By Aaron Humes: Prime Minister John Briceño announced Thursday that Belize is on the verge of finalizing a
The post Prime Minister: BEL/Fortis acquisition avoided sellout to Honduras company appeared first on Belize News and Opinion on www.breakingbelizenews.com.
