By Belize Live News Staff: The Government of Belize (GOB) is taking a bold step toward full energy sovereignty.
Prime Minister John Briceño is set to announce in the House of Representatives on Friday, October 17, 2025, that his administration has reached a historic agreement with Fortis Inc. of Canada to acquire its hydropower plants and 33.3% shareholding in Belize Electricity Limited (BEL).
The agreement will see Belize regain full control of three major hydropower facilities located along the Macal River:
Mollejon Hydroelectric Plant (25 MW) – commissioned in 1996,
Chalillo Hydroelectric Plant and Reservoir (7 MW) – opened in 2005, and
Vaca Hydroelectric Plant (19 MW) – operational since 2010.
Together, these plants generate over one-third of Belize’s total annual electricity consumption, a cornerstone of the national grid.
The Prime Minister will introduce a Bill seeking parliamentary approval for the acquisition. Funding will be secured through a special budgetary appropriation, with plans to finalize the purchase by November 15, 2025. Afterward, the Government will conduct a domestic equity and debt offering to recover costs.
This acquisition marks a monumental shift, bringing these critical energy assets under Belizean ownership for the first time in decades. The move is expected to reduce the cost of electricity, stabilize prices, and keep profits within the country.
“The Government intends to eliminate the annual increases in the cost of power sold by the hydro plants to BEL, providing a significant benefit for all consumers,” the Prime Minister’s Office stated.
Fortis Inc. President and CEO David Hutchens congratulated Belize, saying the company was proud of its long-standing partnership and wished the Government and employees continued success.
The new Hydro Belize Limited, headquartered in San Ignacio, Cayo, will be led by CEO Kay Menzies and managed by a fully Belizean team of 48 employees. An Interim Board, chaired by Ambassador Lynn Young, will oversee operations.
The acquisition was guided by NERA Consulting UK, Hallmark Advisory, Marsh LLP, and Sukhnandan Consulting LLC.
