Sort and wash beans; place in a Dutch oven. Add water and half of bell pepper; bring to a boil. Reduce heat, and simmer, uncovered, 1 1/2 hours or just until beans are tender.
Heat 2 teaspoons olive oil in a skillet over medium-high heat until hot. Add remaining bell pepper, onion, and next 4 ingredients; cook, stirring constantly, 5 minutes or until tender.
Add onion mixture, sugar, and salt to beans; cover and simmer, stirring occasionally, 45 minutes. Uncover and cook 15 minutes or to desired thickness.
Stir in wine and 2 tablespoons oil. Remove and discard bay leaf; cook until heated. Serve over rice. Garnish, if desired.