Smoke coming from Engine

Hi i bought a 2002 TD4 freelander 80000miles not long ago and has been running like a beauty. The other day i drove through some deepish water and came out the other side and could hear a belt squealing while it was idling. The next day i pulled away from home about a mile down the road i slowed down to come to a stop and noticed the Battery light come on, suddenly there was smoke coming from my engine and i could smell burning, was hard to tell if it was electrical or rubber. Switched off engine straight away and opened the bonet and couldn't see where it was soming from as it had stopped. Started the engine up again and battery light now off and no smoke. Been driving around for a week with out it happening again.

Had it service and the Mech said it was in good order. Then tonight it happened again, came to a stop and the Battery light came on and it started to smoke, engine off then back on and it stopped. Any ideas, not sure if its a belt slipping or something, not sure if it has anything to do with driving through about 2.5ft of water. Any ideas????

you let a freelander get wet!!!!!! i pity the fool who gets a freelander wet!! is there **** int the alternator? is the belt fooooooked?

So they down swim to well then hey, so strange as it's intermitent, been driving it everyday and only those two time it has been weird is the belt a mission to get off and change?

next time it does it (if it does it again) open the bonnet and have a look while its still runnin (be carefull tho )

Cool will do, hopefully my head don't catch fire in the process thanks!!!