Belize Electric Company Ltd. donates BZD$200,000 to COVID‐19 Response
Wednesday, March 25th, 2020
Lynn Young, President, and CEO of Belize Electric Company Ltd. (“BECOL”), a subsidiary of Fortis Inc. (“Fortis”), announced a BZD$200,000 contribution to the COVID‐19 Pandemic Response Initiative (“COVID‐19 Response”).
Even before the first case of COVID‐19 was confirmed in Belize, the Government has been diligently preparing and ramping up the country’s health care facilities. “We have an urgent need for protective gear for our medical and support staff. This donation will go a long way in helping us to procure the necessary gear and medical supplies,” said Dr. George Gough, CEO of the Ministry of Health.
The Government welcomes any assistance it can get from the private sector as the country braces for the adverse economic impacts in addition to the strain on its healthcare services. “We must act together and do the best we can to reduce the human suffering while we position ourselves to get back on our feet as quickly as possible,” said Lynn Young, President, and CEO of BECOL. “We are pleased to provide this contribution to assist the efforts to mitigate the devastating effects of the Novel Corona Virus or COVID‐19.”
“I encourage everyone to take proper care of themselves and each other, and to act safely and responsibly to limit the spread of this virus,” said Barry Perry, President, and CEO of Fortis. “BECOL’s donation, along with others, will facilitate timely response by the authorities to this crisis.”
Fortis’ hydroelectric generation operations in Belize are conducted through the Corporation’s indirectly wholly-owned subsidiary BECOL under a franchise agreement with the Government of Belize. The non‐regulated generation operations of BECOL consist of the 25‐MW Mollejon, 7‐MW Chalillo, and 19‐MW Vaca hydroelectric generating facilities. All the output of these facilities is sold to Belize Electricity Ltd. under 50‐year Power Purchase Agreements expiring in 2055 and 2060.
Fortis is a leader in the North American regulated electric and gas utility industry with 2019 revenue of $8.8 billion and total assets of $53 billion as of December 31, 2019. The Corporation’s 9,000 employees serve utility customers in five Canadian provinces, nine U.S. states, and three Caribbean countries. Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com or www.sec.gov
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