BECOL owns and operates the Mollejon hydroelectric facility located on the Macal River. Operations BECOL “green power”, is recognized as one of the most environmentally preferred and least expensive sources of energy. The increased energy production from Chalillo is the least-cost energy alternative in Belize and will provide a number of significant and long-term benefits for customers of Belize Electricity and for the country. The Project will increase reliability of service through more consistent production of electricity and will enable more stable electricity costs due to reduced reliance on fossil fuels. It will also increase the self-sufficiency of Belize to meet the country’s growing energy demands. Construction of the Project is scheduled to commence in 2002 with completion in 2004. On January 26, 2001, Fortis acquired a 95 per cent interest in BECOL which owns and operates the Mollejon hydroelectric facility located on the Macal River in Western Belize. The facility is a 25-MW generating plant capable of delivering average annual energy of 80 GWh and is the only commercial hydroelectric facility in Belize. BECOL sells its entire output to Belize Electricity under a 50-year power purchase agreement. With sales of 91 GWh, BECOL had its second best year of production in 2001 since commencing commercial operations in 1996. Strong river flow, increased countrywide demand and plant availability of more than 99 per cent were the primary reasons for the high level of power production.  The Company is committed to being a leader in environmental management in Belize and has embarked on a program to make its operations comply with ISO 14001 international environmental standards in 2002.  In November, BECOL received environmental clearance from the Government of Belize for the Chalillo Project, an upstream storage and generation facility that will increase energy production from an average of  80 GWh to 160 GWh. Hydroelectricity, a source of Control panel for MollejonGLYPH<213>s three turbine generators Equipment cooling water system FORTIS Inc. 2OO1 Annual Report 16