By Belize Live News Staff: Prime Minister John Briceño has confirmed that the Social Security Board (SSB) will serve as an anchor investor in the new publicly owned company Hydro Belize, which has taken over assets previously held by Fortis Belize.
The Government of Belize currently owns three hydroelectric dams on the Macal River, an asset valued at around $220 million Belize dollars. Under the new structure, Hydro Belize will manage these facilities, and SSB’s involvement is expected to help ensure Belizean ownership and long-term financial returns.
Speaking to reporters, Prime Minister Briceño said that the project will be structured in a way that benefits Belizeans directly:
“All of these things are going to be done, but it is going to be for and on behalf of our citizens,” he said.
He explained that while the exact percentages are still being finalized, the government intends to make shares available to Belizeans.
“The idea is that for us to be able to have, I hope we can get thousands of Belizeans to invest — $1,000, $5,000, $10,000 — so that they could be part of it. That’s the goal, to have as many Belizeans as possible able to invest.”
Briceño added that the Social Security Board will play a key role as a strategic investor, purchasing a portion of the shares and helping to stabilize financing.
“We’re hoping about 35% will be sold as shares of the total figure,” he said. “Social Security can buy debt and buy into the shares of the company as well. It’s a solid investment where we can get good returns.”
When asked whether the beneficial owners of Hydro Belize will be disclosed, the Prime Minister assured the public that ownership details will be transparent and accessible.
“Of course, it’s going to be public knowledge — it’s going to be in the registry,” he stated.
The Prime Minister emphasized that the goal is to make Hydro Belize a national success story, providing both sustainable energy and local investment opportunities.
