Opposition Questions $256M Energy Deal: Can Belize Afford Fortis Buyout?

The Briceño Administration’s announcement of a $256 million deal to acquire Fortis’s operations in Belize has ignited a heated debate over the nation’s financial capacity to manage such a significant investment. The agreement includes Fortis’s 33% stake in Belize Electricity Limited (BEL), marking a pivotal step toward national energy control. However, the move has drawn sharp criticism from the opposition, led by Tracy Panton, who has raised serious concerns about the government’s ability to sustain the financial obligations tied to the deal. Panton highlighted recent costly repairs at key hydro facilities, including a $250,000 generator failure at the Chalillo Dam in December and additional repairs at the Mollejon Dam in June. She questioned whether Belize can afford the long-term financial burdens while ensuring reliable energy services. The deal, while ambitious, has left many questioning its feasibility and the potential impact on taxpayers.