标签： Belize

The Government of Belize has unveiled a strategic initiative to acquire Fortis Inc.’s electricity assets within the country, marking a significant shift in the ownership of key energy infrastructure. The acquisition encompasses Fortis’s 33.3% stake in Belize Electricity Limited (BEL) and its three hydropower facilities on the Macal River—Mollejon, Chalillo, and Vaca. The proposal is set to be presented to the House of Representatives for parliamentary approval on Friday, with the transaction expected to conclude by November 15, 2025. Funding for the purchase will be sourced through a special budgetary allocation, supplemented by a domestic equity and debt offering to offset initial expenditures. The government emphasized that this move aims to secure local control over critical energy resources and reduce electricity costs for consumers. A newly established entity, Hydro Belize Limited, will oversee the acquired assets. Based in San Ignacio, Cayo District, the company will be led by CEO Kay Menzies and governed by an interim board chaired by Ambassador Lynn Young, a seasoned professional with extensive experience in both BEL and Fortis Belize. The government’s advisory team included prominent firms such as NERA Consulting UK, Hallmark Advisory, Marsh LLP, and Sukhnandan Consulting LLC, which played a pivotal role in structuring the deal. However, the announcement has sparked criticism from the United Democratic Party (UDP) Opposition, led by Hon. Tracy Taegar Panton. In a press statement dated October 17, 2025, the UDP labeled the transaction as hasty and lacking transparency, citing the absence of independent valuation, regulatory scrutiny, and public disclosure. The Opposition also warned that the financing mechanism, particularly the use of a special budgetary appropriation, could exacerbate Belize’s national debt, placing an additional burden on taxpayers.

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.

The recent decision by Fortis to withdraw from Belize has ignited widespread speculation about the future of hydroelectric power in the country. Many are questioning whether the move is linked to challenges posed by climate change, such as prolonged droughts, which could be undermining the viability of hydro power. Prime Minister John Briceño addressed these concerns, clarifying that Fortis’ exit is part of a broader strategic shift by the company rather than a reflection of environmental or operational issues. According to Briceño, Fortis has been divesting its production assets globally, focusing instead on distribution and transmission. The company’s initial investment outside Canada was in Belize, followed by operations in Turks and Caicos, both of which have since been sold. Briceño emphasized that Belize’s energy sector remains a secure investment and highlighted the importance of increasing local ownership in critical energy assets. Currently, 78% of Belize’s energy is controlled by foreign entities, with 50% managed by Mexico’s CFE and a third by Fortis Belize. The Prime Minister reiterated the government’s commitment to ensuring Belizeans gain greater control over their energy resources, marking a pivotal step toward national energy independence.

The Belizean government has announced its acquisition of Fortis’ 33% stake in Belize Electricity Limited (BEL) at a significant 60% discount, amounting to over a quarter billion Belize dollars. Prime Minister John Briceño revealed the deal during a press briefing, emphasizing its strategic importance for the nation. While the exact financial details will be disclosed in the National Assembly tomorrow, Briceño highlighted that the purchase price is six times BEL’s earnings, a stark contrast to the 35-times-earnings valuation used in the previous government’s acquisition of BTL. The Prime Minister described the transaction as a ‘solid investment’ for Belize, though he cautioned that it does not guarantee lower electricity rates for consumers. BEL has been selling electricity below cost, a practice that has placed the company in a precarious financial position. Briceño acknowledged the need for a thorough review of BEL’s operations to address its financial challenges, while also commending the company for its efforts to operate within constrained pricing. The deal follows negotiations with Fortis, which had expressed its intention to sell its BEL shares. The government’s ability to secure the stake at a substantial discount reflects its commitment to stabilizing BEL’s operations and ensuring its long-term viability. However, the Prime Minister acknowledged that addressing BEL’s financial woes may require unpopular decisions, including potential rate increases.

The Belizean government’s recent announcement of its acquisition of hydro plants and Fortis’ shares in BEL has sparked significant controversy. The Opposition, led by Tracy Panton and the U.D.P. caucus, has raised serious concerns about the lack of transparency surrounding the multi-million-dollar deal. They argue that the process has been rushed without adequate disclosure to the public, questioning whether an independent valuation, cost-benefit analysis, or regulatory review was conducted. The Opposition has also cast doubt on whether the acquisition will lead to reduced electricity costs for citizens. Additionally, they warn that a special budget appropriation for the deal could result in increased borrowing, higher national debt, and a greater financial burden on taxpayers. In response, the Opposition is demanding the immediate release of all financial documents and valuations related to the acquisition. These concerns are expected to be a focal point during Friday’s House Sitting in Belmopan, where further scrutiny of the deal is anticipated.

Belize Water Services (BWS) has initiated a public consultation process to discuss a proposed 20% increase in water tariffs, marking its first review in a decade. The company argues that the hike is essential to sustain operations and finance critical infrastructure upgrades. Without the increase, BWS claims it cannot maintain service quality or meet future demands. The proposed rates, if approved, are set to take effect in April 2026. Prime Minister John Briceño acknowledged the necessity of the adjustment, citing BWS’s significant capital investment of $130 million and its marginal profitability since its last tariff increase in 2015. The public consultation, scheduled for Friday night in Belize City, aims to provide transparency and gather community feedback on the proposal.

Belize Telemedia Limited (BTL) unveiled its state-of-the-art Signature Plus Store on October 16, 2025, marking a transformative moment for the company and the nation’s telecommunications sector. Situated at BTL’s corporate headquarters on St. Thomas Street, the store is more than a retail space—it’s a beacon of innovation, offering the latest in connectivity technology and cutting-edge products. Designed as a hub for learning, engagement, and creativity, the store underscores BTL’s commitment to redefining Belize’s digital landscape.

During the grand opening, BTL Chairman Markhelm Lizarraga emphasized the company’s ambitious five-year strategy to modernize and expand its operations. Since 2021, BTL has invested heavily in upgrading its infrastructure, improving network reliability, and enhancing customer and employee experiences. Lizarraga described the store as a milestone that reflects BTL’s vision for the future.

Prime Minister John Briceño also lauded the initiative, highlighting BTL’s remarkable turnaround under effective leadership. He noted that BTL’s earnings surged from $1 million in 2019 to its current success, attributing this growth to strategic governance and employee dedication. Briceño expressed pride in BTL’s achievements, which he sees as a testament to Belize’s potential for technological advancement.

The Signature Plus Store is not just a retail destination but a symbol of BTL’s evolution and its role in shaping Belize’s digital future. With its focus on innovation and community engagement, the store is poised to become a cornerstone of Belize’s tech ecosystem.