In a landmark move set to reshape Belize’s energy sector, Prime Minister John Briceño will announce tomorrow in the House of Representatives that the Government of Belize has reached an agreement with Canadian company Fortis Inc. to acquire its electricity sector assets in the country. The deal includes the purchase of three hydropower plants—Mollejon, Chalillo, and Vaca—located on the Macal River, which collectively supply over a third of Belize’s electricity. Additionally, the government will acquire Fortis’s one-third stake in Belize Electricity Limited (BEL). The Prime Minister emphasized that the acquisition aligns with Belize’s goal of achieving greater control over its power supply and advancing energy independence. The bill, which seeks parliamentary approval for the deal, will be tabled tomorrow. Funding for the acquisition will be sourced through a special budget, with plans to recover costs via a domestic equity and debt offering. Contracts for the Mollejon and Chalillo plants extend until 2050, while Vaca’s contract runs until 2060. Financial specifics will be disclosed when the bill is presented. The deal follows months of negotiations after Fortis initially considered selling its Belize assets to a Honduran company. Prime Minister Briceño expressed satisfaction with the outcome, stating that the agreement ensures Belize’s interests are prioritized.