Belize power grid in line for US$30mn boost

IDB Invest placed a US$30mn package in its pipeline of potential financing to support power distributor Belize Electricity (BEL).

The funds would help cover BEL’s short-term working capital needs and pay for scheduled capital projects, information from IDB’s private lending arm shows.

Activity will target equipment, software, system development, infrastructure upgrade works, and customer services related to smart grid solutions, public street lighting and substations, among other areas.

IDB Invest’s board is scheduled to review the financing package next month.

BEL has said that “unprecedented growth in consumption, changing climate conditions, and delays in getting generation sources online, in both Mexico and Belize, are now impacting our ability to meet demand.”

Meanwhile, the country’s Public Utilities Commission (PUC) approved its initial decision regarding BEL’s 2024-28 full rate review proceedings, which include approved projects.

PUC also reported it intends to issue Belize Cogeneration Energy (Belcogen) an electricity license to operate a cogeneration power plant to supply BEL and Belize Sugar Industries, utilizing rated site capacity of 27.5MW.

Among the reasons highlighted by the regulator for the proposed license are the need to cover demand and align with the national energy policy. PUC will accept comments until December 2 at info@puc.bz

PUC’s BEL approval and license proposal are available in the Documents box in the top-right corner of the screen.

Also read Belize doubling down on energy storage actions