The Government of Belize and Fortis Inc. of Canada have reached an agreement for the purchase of Fortis Inc.’s electricity sector assets in Belize. 

The Prime Minister, with the approval of Cabinet, will table a Bill that seeks parliamentary authorisation for the acquisition of the three hydropower plants owned and operated by Fortis Belize. The Bill would also authorise the acquisition of Fortis’s 33.3% shareholding in the Belize Electricity Limited (BEL).

The three hydropower plants to be acquired, all located on the Macal River, are the 25-megawatt (MW) Mollejon Plant, the 7 MW Chalillo Plant and Reservoir, and the 19 MW Vaca Plant. Together, these plants generate more than one-third of the total electric power consumed annually by Belizeans.  The Mollejon Facility was commissioned in 1996, Chalillo in 2005, and Vaca in 2010.

The Mollejon and Chalillo power purchase contracts with BEL extend to 2050, while the Vaca contract extends to 2060.

NERA Consulting UK, Hallmark Advisory, Marsh LLP, and Sukhnandan Consulting LLC advised the Government on the transactions.

Davies acted for Fortis.