Mexico's New President Sheinbaum Will Soon Present New Energy Plan

---

Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--The new president of Mexico will promote the development of renewable energy and maintain support for national companies.

Claudia Sheinbaum, Mexico's new president, said during the first day of her mandate that she would present "in a few days" a new national energy plan for the years 2024-2030. The plan will include new investments in transmission and generation of electricity as well as an "ambitious" plan for the energy transition to reduce greenhouse gases and protect the environment.

According to Sheinbaum, the new government will promote renewable energy expansion, with developments expected to cover 45% of the electricity consumption by 2030.

Additionally, the new president will maintain her steadfast support for state-owned electricity generation, with the national energy company providing 54% of the electricity while private companies produce the remaining 46%.

"Private investment to cover 46% of generation will be made with clear rules, within the framework of the law, and guaranteeing the stability of the electrical system. We all benefit from strong state-owned energy companies that guarantee clean energy at low prices for current and future generations," said Sheinbaum during her speech in the Mexican Congress.

The new president highlighted that state-owned oil company Pemex's production would remain around 1.8 million barrels of oil per day (BBL/d) during her mandate. Pemex's output will focus on meeting domestic fuel demand, hinting at lower exports.

She also highlighted that the 2013 energy reform envisioned an oil production of 3 million BBL/d, but that this is environmentally unsustainable. Instead, she will support energy efficiency and cleaner technologies.

For the next six years, Sheinbaum is likely to maintain support for state energy companies like Pemex and state power company Comision Federal de Electricidad (CFE) and promote the development of renewable energy for domestic consumption.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).