AME Appoints Ramón Moreno as New ChairmanBy Cas Biekmann | Fri, 11/27/2020 - 09:14
Ramón Moreno Vergara, CEO of Mitsui & Co. Power Americas, has been named the new Chairman of the Mexican Energy Association (AME). AME, an organization that brings together major private investors in power generation, reports that Moreno will take on the role for the next two years. Moreno is also an MBN Expert Contributor.
Moreno will work closely with the association’s affiliates and partners to foster Mexico’s energy sector, encouraging robustness, efficiency, solidarity and sustainability, AME’s core commitments along with the promotion of investments in Mexico. “We are an organization with 21 years of experience, during which we have tried to play our part in the development of Mexico by way of efficient, competitive, and reliable electrical power,” Moreno stated in AME’s press release. Abraham Zamora, Vice President of Sustainability, Corporate Affairs and Public Affairs at IEnova, was also appointed Vice President of AME for a two-year term as well.
“Our commitment is to continue contributing in the development to the necessary infrastructure for the sector and in the energy transition by means of our investments, always in strict adherence to the law and to the country’s particular needs,” said Moreno. When asked by MBN how he sees Mexico’s potential to attract investment and meet growing energy demand, Moreno responded that “Mexico is a very attractive country for investors in the energy sector. It is one of the biggest economies in the world, with a lot of work to be done in the following years, not only to cope with growing demand but with the energy transition. These are the fundamentals, which ensure that a lot of companies and equity investors constantly look at Mexico with great interest for long term investments.”
Moreno furthermore outlined the challenges Mexico faces in his Expert Contributor article on MBN published earlier this year. “For most OECD countries, electricity demand has been declining and has uncoupled from GDP growth. However, in Mexico, demand has increased by about 3 percent year-on-year over the past two decades, closely linked to industrial consumption, and it is expected to continue rising at the same level over the next 15 years. This meant that 70,000MW would have to be added to the system throughout the period 2018-2032. A common rule of thumb is that Mexico's power demand increases 1.5 times the GDP growth rate.”