PM Briceño on Hydro Belize Share Offer: ‘I Think Belizeans Should Invest’

Belizeans will soon have the chance to own a part of the country’s electricity system as the government launches the sale of Hydro Belize shares.

The company operates three hydroelectric dams that supply roughly one-third of Belize’s electricity. Together, they generate 51 megawatts and earned around BZ$50 million in revenue last year. The government acquired the plants from Canada’s Fortis Inc. on 31 October and is now offering four million shares, or 50% of the company, at BZ$29 each.

Prime Minister John Briceño said today that the sale is aimed at small, everyday Belizean investors. “These shares we want to offer to Belizeans so that the Belizean public can benefit from them,” he said. “If you have some money, I think you should invest. I think it’ll give you a good return for teachers, BDF, everybody, any individual.”

Briceño added the other 50% will initially be held by the government. Any shares not purchased by individuals will then be offered to institutional investors that have voiced their interest, such as the Social Security Board and Holy Redeemer Credit Union.

The sale is set to launch on Thursday, December 18.