The Santander Sugar Group has signed an agreement with BEL to supply energy to the National Grid.
The Guatemalan company set up its sugar cane operation in Valley of Peace, Cayo, has been approved to sell 16 megawatts of electricity to BEL. It's part of an approval process which the Public Utilities Commission started back in October 2013. And after that extended review period, BEL, the PUC and Santander Sugar Energy Limited signed a power purchase agreement today.
Here's how they explained it:
A unique feature of this agreement is that energy sales will be in Belize dollars.
The PUC Chairman revealed today that ASR has requested an increase in the price of the electricity they sell to the grid. That proposed increase is only in its very initial stages of review.
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