I have used 1/16wide x 1/16″ deep with a half round bottom, so a U shape not half round. This is also the size given on th eStuart Williamson which used the same type belt for the governor. The actual belts is approx 1.5mm wide so very little side clearance.
Depending on the size of your generatr and the load it creates you may have problems with belt slip. But as it drove the TE along there would be a reasonable resistance to that
Drives this cooling fan OK