Belize moves to nationalize Fortis inc.

Today the House of Representatives, the Prime Minister of Belize, Hon. John Briceño, will announce that 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 authorize the acquisition of Fortis’s 33.3% shareholding in the Belize Electricity Limited (BEL).

Fortis operates a total of 3 hydro electric plants (HEP) in the tiny Central American nation. 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.

Chalillo dam, one of 3 dams operated by Fortris inc.

A crucial factor of Belize's power generation is the Chalillo dam, a 7.0 MW mega structure feeding two smaller dams downstream, the Mollejon and Vaca. The Mollejon has a capacity of 25.2 MW and the Vaca has a capacity of 19 MW. The three dams together meet approximately 40% of Belize's energy needs. .The dam was constructed by Sinohydro of Beijing, China, between 2002 and 2005 with the primary purpose of hydroelectric power production. The project budget was approximately US 30 million. Its construction generated controversy over its effect on the surrounding rain forest.

The new Hydro Belize Limited, headquartered in San Ignacio, Cayo District, is led by CEO Kay Menzies, with an entirely Belizean team of 48 staff members. The Government’s Interim Board for Hydro Belize will be chaired by Ambassador Lynn Young, an accomplished veteran of both BEL and Fortis Belize.