This is a profile image of Diego Hernandez Diaz

Diego Hernandez Diaz

PartnerGeneva

Leads McKinsey’s Global Energy Perspective and advises energy and industrial companies on strategy and digital to navigate the energy transition, drive growth, improve performance, and build operational excellence

Diego is a partner with Energy Solutions, a specialized McKinsey unit focused on harnessing digital and advanced analytics to enable the energy transition, where he leads the development of McKinsey’s annual Global Energy Perspective. Fluent in the energy transition, renewable and conventional power generation, and grids, clients and colleagues seek him out for his unique ability to fuse themes and insights across the transition.

Diego also leads McKinsey’s work on clean energy transformation globally, supporting small and large energy intensive companies and consumers on defining energy strategies that balance sustainability, cost, and resilience.

Diego has worked extensively with energy consumers, utilities, and OEMs on challenges in operations, maintenance, and strategy across Asia, the Americas, and Europe.

Examples of his recent client projects include the following:

  • Led more than 20 strategy engagements for energy and utility companies across Asia, Europe, and North America, leveraging scenario development, system cost evolution, and long-term projection
    • Led a strategic portfolio review for a large Central European utility, defining key indicators for when to double down and when to leverage exit opportunities
    • Led a multicountry integrated power strategy for a large global energy company
    • Developed a perspective on use cases enabling flexibility in the grid for the European Union, required by the European RES targets and plans culminating in the publication of a co-authored report
    • Led the total value and digital assessment for a leading utility across production, and identified 20 million to €40 million in total opportunity across capex and opex, while establishing a broad go-forward strategy aligned with the internal transformation and broader market trends
  • Led more than 40 clean energy strategy engagements for various industrials across Asia, EMEA, and North America, balancing cost, sustainability, and resilience, while identifying, on average, 10 to 15 percent cost improvement opportunities
    • Led a large energy consumer’s (over 20 TWh) utility strategy to secure green energy across global sites
    • Transformation in utility solar construction: developed and implemented a customized asset performance technology solution to enable improved decision making for a portfolio of more than 30 projects

Before joining McKinsey, Diego spent four years with an international banking group as an equity research associate. He speaks five languages.

Published work

Electricity demand in Europe: Growing or going?,” McKinsey & Company, October 2024

The role of power in unlocking the European AI revolution,” McKinsey & Company, October 2024

The energy transition: Where are we, really?,” McKinsey & Company, August 2024

Playing offense: Industrials staying ahead in the energy transition,” McKinsey & Company, April 2024

A balancing act: Securing European gas and power markets,” McKinsey & Company, April 2023

Decarbonizing the grid with 24/7 clean power purchase agreements,” McKinsey & Company, May 2022

Digitalization of energy flexibility,” Publications Office of the European Union, March 2022

Finding the right (of) way to efficient road operation and maintenance,” McKinsey & Company, July 2021

The new imperative for grid operators,” McKinsey & Company, September 2020

4 myths about manufacturing in the Fourth Industrial Revolution,” European Sting and World Economic Forum, February 2019

Past experience

Credit Suisse
Equity research associate

Education

The Wharton School, University of Pennsylvania
MBA, business administration and operations
BS, finance and management

University of Pennsylvania
MA, international studies

University of Pennsylvania School of Engineering and Applied Science
BS, computer science