Opposition Questions $256M Energy Deal: Can Belize Afford Fortis Buyout?

It’s a massive deal, one that could reshape Belize’s energy future and cost taxpayers a quarter of a billion dollars. The Briceño Administration announced on Friday plans to purchase Fortis’s operations in Belize for $256 million, including the company’s 33 per cent stake in Belize Electricity Limited (BEL).

The move, described as a major step toward national energy control, has sparked debate over the country’s financial readiness to manage the deal and its long-term obligations.

Leader of the Opposition Tracy Panton raised concerns following the release of the Fortis Belize Limited Shares Purchase Agreement, pointing to recent costly repairs at two major hydro facilities. At the Chalillo Dam, a generator failure last December cost the company $250,000, while the Mollejon Dam required additional repairs in June.

Panton questioned whether the government can sustain such financial burdens while maintaining service reliability.