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All Opportunities in Selected Country | All Opportunities | Return to Map.

To cater to the current and forthcoming demands of electricity in Belize, the Public Utilities Commission (PUC), the Belize Electricity Limited (BEL) and the Ministry of Energy, Science and Technology and Public Utilities (MESTPU) launched its Request for Proposals for Electricity Generation, Belize 2013 (RFPEG- 2013) which sought to contract additional energy generation and supply capacity. Seven projects were selected for further negotiations for a Power Purchase Agreement (PPA). Two of these projects involve hydroelectric generation and are currently seeking investment.

The first is the Upper Swasey project, located on the upper section of the Swasey River. The project is scheduled to be in operation by 2019. Maximum output from the facility to be 9 MW (1 unit) with associated 41.38 GWhs of energy annually. The project includes a 50 meter high dam with the power house located 1.3 kilometers from the dam. A three meter diameter steel penstock (or tunnel) will connect the dam to the powerhouse. The project has an associated head pond of 40 million cubic meters of water which will allow weekly regulation of its output. Capital investment is estimated at US$37.8 million.

The second development is the Challilo 2 project, located on the Macal River. The project would become the 4th hydro plant to be added to the Macal hydro cascade scheme and is scheduled to be in operation by 2019. Maximum output from the facility to be 12.8 MW (2 by 6.4 MW units) with associated 46.55 GWhs of energy annually. The project includes a 43 meter high dam with the power house located 4 kilometers from the dam. A three meter diameter steel penstock will connect the dam to the powerhouse. The project has an associated head pond of 30 million cubic meters of water which will allow weekly regulation of its output. Capital Investment is estimated at US$41.55 million. 

 

 

 

Sector Strengths
  • Belize has a low population density and a considerable amount of uninhabited land which lends itself to hydroelectric development. A comprehensive study of Belize’s hydro-electric power potential was commissioned by Belize Electricity Limited (BEL), and conducted by a Canadian consulting firm. The study found that Belize had approximately 70 MW of developable hydro potential, capable of yielding 330,000 MWh of annual energy[1].
  • Belize is committed to developing renewable energy and is also seeking investment in biomass, wind power and solar energy. The country currently generates 60% of its electricity from hydroelectric and biomass, while the remaining 40% is generated from fossil fuels. It aims to generate 100% of its energy requirement from renewable sources by 2033.
  • The country had a population of 357,000 in 2014, but this is forecast to grow to 500,000 by 2030. This population growth, combined with industrial growth will ensure growing demand for energy in the country.

 

 

[1] Belize National Energy Policy Framework 2011

Incentives

Belize offers a number of incentives for investors. These include:

  • Fiscal Incentives Programme - The Fiscal Incentives Programme was designed to encourage genuine investments in Belize through duty exemptions and tax holidays. The Act provides both existing and prospective investors with the legal and fiscal framework to stimulate productive economic activities. The Full Duty Exemption includes a duty exemption of up to a maximum of 15 years to companies granted an Approved Enterprise Order. The Duty exemption may be renewed for a further term of 10 years or a total of 25 years for companies engaged in agriculture, agro-industrial products, mariculture, food processing and manufacturing with operations centered on export, and that are highly labor intensive.
Agribusiness worker 
(annual labour cost  = unskilled production operative)
Electricity cost
The cost for electricity for industrial use per kWh
Water cost 
The cost for water for industrial use per cubic meter.
Gas cost 
The cost for gas for industrial use per cubic meter.
Telecom cost
The cost charged by a leading telecom operator for a 3 minute call to USA
Industrial space (Property) *
capital city – give name - The total cost of industrial space based on rental fees plus any taxes and/or service charge (per sq ft p.a.)
Office space (Property) * 
capital city – give name -The total cost of office space based on rental fees plus any taxes and/or service charge (per sq ft p.a.)
Social security contributions (employer) %
Statutory social security which companies must pay on top of salaries
Select fact file categories to add to export

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Indicators for Labour Costs

Data Point Value Units Year
Labour costs (minimum wage USD per month)1 386 US dollar per month 2015
Social security contributions (employer) %2 5.4 Percentage 2015

1 - World Bank Doing Business
2 - EY Worldwide Personal Tax Guide 2014/15

Indicators for Utility Costs

Data Point Value Units Year
Electricity cost1 155 US dollar per Megawatt per hours 2015
Water cost - The cost for water for industrial use per cubic meter2 2.1 US$/m3 2010
Telecom cost - The cost charged by a leading telecom operator for a 1 minute call to USA3 0.19 USD per minute 2014

1 - Climatescope
2 - Corporacion del acueducto y Acantarillado de Santo Domingo
3 - International Telecommunication Union - ITU

Indicators for Property Costs

Data Point Value Units Year
Industrial space (Property)1 85.1 USD per year/m2 2015
Office space (Property)2 228.4 USD 2015

1 - Cushman and Wakefield
2 - Cushman and Wakefield

Indicators for Taxes

Data Point Value Units Year
Top personal tax rate (%)1 25 Percentage 2015

1 - The Heritage Foundation

Indicators for Natural Resources

Data Point Value Units Year
Average annual air temperature1 25.4 Celsius 2016
Average daily solar irradiation1 4.8 Kilowatt per square metre 2016
Average hours of sunshine per day2 6.8 Hours 2016
Average wind speed1 3.3 Metre per second 2016

1 - Renewable Energy System Design Tool: Solar power calculator
2 - World Climate Guide

Indicators for Track Record

Data Point Value Units Year
Environmental Performance Index1 73.6 Index 2016

1 - Yale University

Belize Trade & Investment Development Service

14 Orchid Garden Street

City of Belmopan

P: 501-822-3737/0175

F: 501-822 0595

info@belize.org