Big Changes Are Coming to Belize’s Power Grid

Belize Electricity Limited (BEL) has secured a USD 27.53 million financing package from the Caribbean Development Bank to overhaul Belize’s electricity grid and roll out smart meters nationwide.

The funding backs BEL’s Power VIII Project, which will see about 115,000 smart meters installed across the country to “modernise Belize’s electricity grid.” The Advanced Metering Infrastructure (AMI) project is intended to bring near real-time energy monitoring, remote operations, and tighter control of losses on the national grid.

According to a BEL statement, the deal is the largest loan CDB has ever extended to the company and the first provided without a Government of Belize guarantee. The package includes a USD 27.2 million loan and a USD 330,000 grant under Canada’s Supporting Resilient and Green Energy initiative, alongside USD 7.05 million in BEL counterpart funding.

BEL Chief Executive Officer John Mencias said the agreement signals strong confidence in the utility. “It represents a landmark milestone that reflects CDB’s trust in BEL’s financial stability, governance, and management,” he said.

CDB portfolio manager Alexander Augustine said BEL described the project as central to building a smarter and more climate-resilient grid.

Installation is already under way, starting in Belize City, Ambergris Caye, and Placencia, with nationwide rollout planned over three years.