Sheinbaum Unveils Plan for Energy Sector: The Week in Energy

A month into her administration, Claudia Sheinbaum presented her National Strategy for the Electricity Sector, Luz Elena González, Director, SENER, presented CFE’s new plan and guidelines.

Ready for more? Here is the weekly roundup!

Government Presents New Energy Strategy

Claudia Sheinbaum has introduced the National Electric Strategy, part of the National Energy Plan, outlining the role of CFE and setting a framework for 46% of electricity generation to come from private investments. This initiative aims to add between 6,000 and 9,000MW of clean energy, supporting the country’s commitment to affordable, reliable, and high-quality electricity.

CFE Reports 3Q24 Results

The depreciation of the peso against the dollar affected CFE’s financial results during 3Q24. Despite reporting an operating profit of MX$122.3 billion (MX$6.099 billion), CFE recorded a net loss of MX$85.8 billion. By the end of 3Q24, CFE's total debt rose by 22.7%, representing MX$94.0 billion, against the same period in the previous year, reaching MX$508.7 billion.

XXXIII La Jolla Energy Conference 2024: Key Takeaways

The XXXIII La Jolla Energy Conference, held on Oct. 16 and 17, 2024, at the University of California in San Diego’s Institute of the Americas, brought together industry leaders, policymakers, and experts to discuss the critical issues unfolding in the energy sector. For more insights from the conference, go to our La Jolla tag.

Mexico Recognized for Iberdrola Plant Acquisition

The Mexican government, through the Ministry of Finance, has been awarded the M&A Loan Deal of the Year at the Global Banking & Markets: Latin America Awards 2024. This accolade was granted in recognition of the US$6.2 billion transaction for the acquisition of 13 power plants from Iberdrola.

RIU Hotels Partners With Iberdrola for Renewable Energy Supply

RIU Hotels & Resorts has signed an agreement with Iberdrola Mexico to power five of its hotels in Mexico with 100% renewable electricity. The partnership aligns with RIU's decarbonization strategy, which aims to make its operations more environmentally friendly.