What does Innergex’s 25th mean to you?
Innergex’s 25th anniversary is the perfect time to take stock of its accomplishments. Little by little, the Company has gained expertise in three renewable energy technologies – first hydroelectricity, then wind and, more recently, solar power. The Innergex team has mastered all aspects of the project development process, from modelling to financing and construction management. Finally, our seasoned operators have perfected the operation and preventive maintenance of assets to optimize performance quality and service life.
What do you believe Innergex’s greatest challenge will be over the next 25 years?
As for any growing company, the greatest challenge for Innergex will be to maintain the kind of attractive growth profile that its shareholders and other stakeholders have grown accustomed to seeing.
The Company will need to leverage the expertise it has acquired to undertake, with some measure of boldness, the next phase of its development, which will lead to establishing a foothold in new target markets internationally. It will also need to demonstrate its entrepreneurship in creating partnerships and making acquisitions in order to consolidate its leadership position in the Canadian renewable energy industry.
Innergex has the foundation to support its growth for many years to come – growth that will continue to be measured, profitable, and respectful of the environment, as well as its employees, partners, customers and suppliers.
Does a new direction for Innergex call for a change at the Board of Directors level?
The natural succession-planning process actually provides the Board with opportunities to adapt in order to better support the management team, oversee the Corporation’s activities and growth, and ensure sound management of inherent risks. Such an opportunity will soon be presenting itself, as we will have two vacancies to fill this year.
The skills matrix developed by the Corporate Governance Committee in the context of succession planning, and used by the Board of Directors to evaluate the appropriateness of its make-up, has enabled us to quickly identify the skills and experience to prioritize in the search for new directors who can support the Company in its strategic planning. We are very pleased to announce that Mrs. Monique Mercier, Executive Vice-President, Corporate Affairs, Chief Legal Officer and Corporate Secretary at Telus, who is based in Vancouver, and Mr. Dalton McGuinty, former Premier of Ontario and currently Senior Advisor, Markets and Industries at PwC Canada, will be proposed for nomination as directors in anticipation of the annual meeting of shareholders on May 13, 2015.
We sincerely thank John A. Hanna for his valuable contribution to the Board of Directors since Innergex’s initial public offering in 2003. Given that Mr. Hanna has reached the term limit prescribed in the Charter of the Board of Directors for serving as a Director of the Company, the renewal of his mandate will not be solicited during the next annual shareholders’ meeting. We wish him every success in his future endeavours.