BELCO was incorporated in 1904 as the
Bermuda Electric Light, Power & Traction Company (B.E.L.P.&T.), and started to supply electricity in Bermuda on 1 May 1908. The company purchased its present site on Serpentine Road,
Hamilton, in 1909 and moved its operations there. On 5 May 2005, BELCO completed the 20-year development of the East Power Station, officially bringing the last of eight new engines online. At the same time, the company began working on a new integrated resources plan (IRP) for the next 20 years, taking into account the island's development and emerging issues, including renewable energy and sustainable development and
energy efficiency. On 3 June 2019, BELCO's parent company, Ascendant Group, agreed to be purchased by Canadian utility conglomerate
Algonquin Power & Utilities for approximately US$365 million. The sale was approved by shareholders on 9 August 2019, approved by regulators in October 2020, and completed on 9 November 2020. ==References==