|Caribbean Markets||Index||Value||Change +-%||USD||EURO||GBP||CAD|
|Bahamas||BISX All Share Index||1,415.96||-0.70||-0.05%||1.00||1.26||1.53||1.60|
|Barbados||BSE 1000 Index||1,094.82||-1,990.31||-64.51%||1.98||2.51||2.95||1.90|
|Jamaica||JSE Market Index||86,275.28||582.03||0.68%||98.47||8.14||148.02||94.17|
ST JOHN'S, Canada: Power producer Fortis Inc. has acquired the remaining five per cent of a Belize electricity generator it didn't own for US$3.5 million. Friday's announced purchase of the rest of Belize Electric Co. Ltd...
ST JOHN'S, Canada: Power producer Fortis Inc. has acquired the remaining five per cent of a Belize electricity generator it didn't own for US$3.5 million.
Friday's announced purchase of the rest of Belize Electric Co. Ltd. from the government of Belize makes the utility a wholly owned indirect subsidiary of Fortis, one of Canada's biggest private power companies.
In early 2001, Fortis bought Duke Energy Group Inc.'s 95 per cent interest in Belize Electric for $62 million US.
Belize Electric owns and operates the only commercial hydroelectric plant in Belize and sells its entire production to Belize Electricity, the primary power distributor in Belize and a company 68 per cent owned by Fortis.
Fortis, based in St John's, Newfoundland, has more than $2.2 billion in assets and annual revenues of $843 million. Through subsidiaries, the company sells power in Newfoundland, Prince Edward Island, Ontario, Belize and the Cayman Islands. Fortis also produces power in Newfoundland, New York State and Belize and has investments in real estate and hotels.