The Sustainable Energy Sector
In the ongoing global quest to mitigating climate change and seeking energy independence, Belize remains an active supporter joining the chorus of fostering renewable energy developments. With a history of development in Green Economy, Belize has been powered by primarily renewable sources, namely Hydro and Biomass Energy with growing opportunities in Solar Energy. An example of the benefits under renewable energy can be seen in the utility rates in Belize, which have a mean electricity rate of approximately USD $0.17 per kilowatt-hour (kWh).
The Government, having endorsed the National Energy Policy Framework 2030, is poised to continue the push for renewable ventures, for the benefit of achieving 89% energy efficiency by 2030 and thus reducing its dependence on fossil-derivative energy. As seen in the Electricity Generation Mix by Source chart (found within this month’s Newsletter), majority of energy generated was from renewable and sustainable origin.
The Sustainable Energy sector in Belize holds several opportunities for investment including but not limited to the following:
- Abundance in natural resources – richness in forestry and Agro-Processed residual goods, notable hydro (river) potential, consistent sunshine hours,
- Availability of high-yield arable land – over 1,998,230 acres (38%) of the total land area are considered agriculturally suitable to nurture biomass feedstock,
- Strategic Location – close market proximity to North American, Central American, and the Caribbean markets. Belize is also within the neighbourhood of the Central American Electrical Interconnection System (SIEPAC) network.
- Exportation of energy to neighbouring countries
- Opportunity to supply the grid (via RFP) with energy
For more details on investment opportunities in Belize’s Sustainable Energy Sector, please feel free to contact our team at BelizeINVEST, a unit of BELTRAIDE!