Although Michel Letellier holds a bachelor’s degree in finance and a master’s degree in business administration, he felt a strong interest in engineering very early in his career.

His knowledge of the economy combined with his boundless curiosity have shaped his avant-garde vision, which he propagates through a multitude of infrastructure projects.

After completing his studies, Michel works for two years in the field of corporate finance. He thus follows in the footsteps of his father, a shareholder in a securities brokerage company. After only two years, he realizes that this environment does not suit him.

Greatly captivated by the industry, Michel finally joins a company in the sector. He works there for five years, accumulating knowledge and expertise that will be important for the rest of his career. The company’s values, however, do not resonate with him as much.

At the same time, as part of his duties, he participates in committees on which Gilles Lefrançois, President of Innergex, also sits. This company, founded in 1990 in response to a call for tenders from Hydro- Québec, develops, restores and builds small hydroelectric power plants.

I identified with the way Gilles perceived our industry and collaborated with his partners. He kept his commitments and remained true to his beliefs. He was both confident and very honest.

In March 1997, Gilles is looking for a Vice President of finance. Michel jumps at the opportunity and joins Innergex. Having developed excellent relationships with several suppliers and collaborators in the past, he brings all his valuable contacts to the company. At 33, he quickly becomes the President’s right-hand man.

“Gilles was then 60 years old. Honestly, I thought he would retire about
five years later.”

Ultimately, Michel would work alongside Gilles for a decade before becoming president himself. Together, they share common values that allow them to create amazing partnerships and lead important renewable energy projects.

In 2007, Gilles retires, but remains Chairman of the Board of Innergex. Michel then becomes president of the company.

Two years later, an economic crisis looms on the horizon.

Many infrastructure companies went bankrupt during those years. All the banks withdrew their loans. We had to negotiate very hard, it was tough.

Michel is 43 years old and focuses on the future, he does not back down and decides with the team to use the financial strategy of reverse takeover. The decision, endorsed by the Board of Directors, not only saves the company, but also makes it much more valuable.

After this major tribulation, Gilles, at the age of 71, leaves his position on the Board for good. He passed away in 2021.

In memory of his dedication, the Chutes-de-la-Chaudière hydroelectric facility, on which he worked so hard in the past, now bears his name.

In 2010, Hydro-Québec, BC Hydro and Ontario are in an electricity surplus situation. The opportunities for growth in the Canadian domestic market are therefore not very bright for Innergex.

The team meets and establishes a five- year plan that includes a well-developed international strategy. With little experience in this field, the various contributors roll up their sleeves to create a small Innergex in France in 2016 by acquiring wind farms in the country.

“We have grown enormously by setting up these overseas projects. We have been able to bring our own knowledge and know-how. It’s very rewarding for both sides.”

Innergex’s expertise in hydroelectricity is also well received in South America. While demonstrating a profound respect for the environment and communities, the Canadian team shares its tips and tricks for improving the profitability of Chilean facilities.

Today, nearly a hundred people work for Innergex in Chile.

Although he does not have an engineering background, Michel never shies away from questioning the preconceived notions of his engineer colleagues.

“They were not thinking about the efficiency and relative cost of the project. So, I pushed them to think differently. Sometimes I was wrong, but I was also often right!”

Of course, Michel knows that it is necessary to keep a somewhat conservative side in order to build projects and be prepared for any eventuality, especially the weather. Nevertheless, he always tries to find innovative solutions.

It’s that eternal optimism that helps me take my team further.

This desire to evolve is present in all spheres at Innergex. Even if the company’s DNA remains hydroelectricity, the team has always been very open to other forms of energy, such as wind and solar. Moreover, these technologies have become less expensive in many places.