Belize Electricity Limited (BEL) is the primary distributor of electricity in Belize, Central America. Aggregate energy sold in 2019 was 588.4 gigawatt hours (GWh). The Company served a customer base of over 100,000 accounts with peak power demand of approximately 105.6 megawatts (MW) during the year.
BEL’s national electricity grid connects all major municipalities (service areas) with approximately 1,900 miles of transmission and primary distribution lines. The grid is supplied by local Independent Power Producers (IPP) utilizing hydroelectricity, biomass, petroleum and solar energy sources; and is secured and stabilized by a 115- kV interconnection with Mexico. Renewable sources accounted for 58.6% of in-country generated energy supply in 2019 despite the persistent drought throughout most of the year; and Belize remains the #1 renewable electricity producer (by % of total electricity generated in-country) in the Caribbean and #2 in the entire North and Central America. BEL also operates two diesel generation facilities, a gas turbine as a standby plant for energy security and reliability, and an off-grid power station that supplies the island of Caye Caulker.
The Government of Belize (GOB) has direct ownership of 32.6% interest in the Company, whilst the Social Security Board (SSB) owns 31.2% resulting in public sector interest of 63.8%. Fortis Cayman Inc. owns 33.3% interest and over 1,500 small shareholders own the remaining 2.9% interest in ordinary shares.