Modern Energy Management (MEM), a specialist in delivering project lifecycle certainty to renewable energy developers, financiers and investors, has appointed Francisco Iacona as country manager for Argentina in its new offices in Buenos Aires.
Iacona will lead business development in Latin American markets, with a specific focus on Argentina.
Following its recent energy crisis, Argentina has turned to renewables as an affordable means of meeting its energy needs. The country has launched a 10-year plan to secure 1 GW of new capacity from renewable sources each year, but will need to attract up to USD20 billion of investment in order to do so.
Securing this level of investment will be challenging following Argentina’s recent defaults on its national debt, which will hinder renewable energy developers’ access to international finance and require them to be able to secure the best, well planned, investment grade projects.
To help developers overcome this market challenge, Iacona will lead MEM’s work in providing due diligence services, advising on issues of site identification, grid capacity and asset deployment in the country. He will also deliver development and construction support to investors and assist in contract negotiations with product suppliers.
Iacona brings extensive business development expertise to MEM and has seven years’ experience in renewable energy. Prior to joining MEM, he worked as a project manager at wind turbine supplier Vestas and a key account manager at Coamtra, the leading provider of crane, transportation and installation services for wind power projects in Argentina.
“Argentina is widely considered to be one of the most promising renewables markets in the world, with strong government support and a successful first auction behind it,” says Aaron Daniels, co-founder, Modern Energy Management.
“By expanding our Argentine team, MEM is uniquely positioned to assist investors as they move into the country’s fast-growth wind and solar sectors.
“Francisco possesses over 400 MW of wind farm development and construction expertise in emerging markets, and this experience makes him invaluable as we look to support Argentina’s renewable energy plans, and further the growth of renewables throughout Latin America.”
