Innergex Renewable Energy Inc.

TSX:INE Stock Report

Market Cap: CA$2.8b

This company listing is no longer active

This company may still be operating, however this listing is no longer active. Find out why through their latest events.

Innergex Renewable Energy Management

Management criteria checks 4/4

Innergex Renewable Energy's CEO is Michel Letellier, appointed in Oct 2007, has a tenure of 17.75 years. total yearly compensation is CA$2.77M, comprised of 24.2% salary and 75.8% bonuses, including company stock and options. directly owns 0.51% of the company’s shares, worth CA$14.26M. The average tenure of the management team and the board of directors is 4.5 years and 5.8 years respectively.

Key information

Michel Letellier

Chief executive officer

CA$2.8m

Total compensation

CEO salary percentage24.15%
CEO tenure17.8yrs
CEO ownership0.5%
Management average tenure4.5yrs
Board average tenure5.8yrs

Recent management updates

Recent updates

User avatar
New Narrative • Mar 24

Boswell Springs And Hale Kuawehi Will Secure Future Success

Strong project pipeline and PPAs in Canada enhance future revenue predictability and EBITDA growth, leveraging First Nations relations.
Analysis Article • Oct 15

Innergex Renewable Energy (TSE:INE) Use Of Debt Could Be Considered Risky

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Sep 24

Unpleasant Surprises Could Be In Store For Innergex Renewable Energy Inc.'s (TSE:INE) Shares

With a median price-to-sales (or "P/S") ratio of close to 2.4x in the Renewable Energy industry in Canada, you could be...
Analysis Article • Jun 09

Improved Revenues Required Before Innergex Renewable Energy Inc. (TSE:INE) Stock's 27% Jump Looks Justified

The Innergex Renewable Energy Inc. ( TSE:INE ) share price has done very well over the last month, posting an excellent...
Analysis Article • May 08

These 4 Measures Indicate That Innergex Renewable Energy (TSE:INE) Is Using Debt In A Risky Way

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analysis Article • Feb 02

Cautious Investors Not Rewarding Innergex Renewable Energy Inc.'s (TSE:INE) Performance Completely

With a price-to-sales (or "P/S") ratio of 2.1x Innergex Renewable Energy Inc. ( TSE:INE ) may be sending bullish...
Analysis Article • Dec 08

A Look At The Fair Value Of Innergex Renewable Energy Inc. (TSE:INE)

Key Insights Innergex Renewable Energy's estimated fair value is CA$7.79 based on 2 Stage Free Cash Flow to Equity...
Analysis Article • Sep 25

Here's Why Innergex Renewable Energy (TSE:INE) Is Weighed Down By Its Debt Load

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Sep 07

Calculating The Intrinsic Value Of Innergex Renewable Energy Inc. (TSE:INE)

Key Insights The projected fair value for Innergex Renewable Energy is CA$14.35 based on 2 Stage Free Cash Flow to...
Analysis Article • Jun 13

Innergex Renewable Energy (TSE:INE) Has No Shortage Of Debt

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Analysis Article • Feb 02

Calculating The Intrinsic Value Of Innergex Renewable Energy Inc. (TSE:INE)

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Innergex Renewable...
Analysis Article • Jan 11

Innergex Renewable Energy (TSE:INE) Use Of Debt Could Be Considered Risky

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Oct 10

Innergex Renewable Energy (TSE:INE) Use Of Debt Could Be Considered Risky

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

CEO Compensation Analysis

How has Michel Letellier's remuneration changed compared to Innergex Renewable Energy's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2025n/an/a

CA$40m

Dec 31 2024CA$3mCA$670k

CA$10m

Sep 30 2024n/an/a

-CA$133m

Jun 30 2024n/an/a

-CA$132m

Mar 31 2024n/an/a

-CA$131m

Dec 31 2023CA$2mCA$652k

-CA$104m

Sep 30 2023n/an/a

-CA$35m

Jun 30 2023n/an/a

-CA$21m

Mar 31 2023n/an/a

-CA$67m

Dec 31 2022CA$2mCA$627k

-CA$87m

Sep 30 2022n/an/a

-CA$44m

Jun 30 2022n/an/a

-CA$84m

Mar 31 2022n/an/a

-CA$18m

Dec 31 2021CA$2mCA$614k

-CA$197m

Sep 30 2021n/an/a

-CA$183m

Jun 30 2021n/an/a

-CA$155m

Mar 31 2021n/an/a

-CA$199m

Dec 31 2020CA$2mCA$583k

-CA$39m

Sep 30 2020n/an/a

-CA$97m

Jun 30 2020n/an/a

-CA$95m

Mar 31 2020n/an/a

-CA$99m

Dec 31 2019CA$2mCA$550k

-CA$56m

Sep 30 2019n/an/a

CA$9m

Jun 30 2019n/an/a

CA$2m

Mar 31 2019n/an/a

CA$17m

Dec 31 2018CA$1mCA$537k

CA$26m

Compensation vs Market: Michel's total compensation ($USD2.03M) is about average for companies of similar size in the Canadian market ($USD2.38M).

Compensation vs Earnings: Michel's compensation has been consistent with company performance over the past year.

CEO

Michel Letellier (60 yo)

17.8yrs
Tenure
CA$2,774,091
Compensation

Mr. Michel Letellier, MBA, is an Independent Director of Canadian National Railway Company since October 1, 2022. He has been the Chief Executive Officer and President of Innergex Renewable Energy Inc. sin...

Leadership Team

NamePositionTenureCompensationOwnership
Michel Letellier
President17.8yrsCA$2.77m0.51%
CA$ 14.3m
Jean Trudel
Chief Financial Officer3.3yrsCA$1.46m0.16%
CA$ 4.5m
Yves Baribeault
Chief Legal Officer & Secretary14.5yrsCA$756.12k0.015%
CA$ 408.6k
Pascale Tremblay
Chief Asset Officer3.9yrsCA$1.33m0.0046%
CA$ 127.2k
Alex Couture
Senior Vice President of Development - North Americano dataCA$700.36kno data
Naji Baydoun
Director of Investor Relationsno datano datano data
Sophie Pilkington
Senior Manager - Complianceno datano datano data
Karine Vachon
Senior Director of Communications and ESGno datano datano data
Alexandra Pepin
Chief Human Resources Officer5.1yrsCA$585.54kno data
Guillaume Jumel
VP & MD of France4.5yrsno datano data
Jaime Pino
VP & MD of Chile4.5yrsno datano data
4.5yrs
Average Tenure

Experienced Management: INE's management team is considered experienced (4.5 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Michel Letellier
President22.8yrsCA$2.77m0.51%
CA$ 14.3m
Monique Mercier
Independent Chairman9.8yrsCA$189.04k0.0048%
CA$ 134.7k
Patrick Loulou
Non Independent Director1.2yrsCA$77.59k0.0054%
CA$ 151.2k
Richard Gagnon
Independent Director8.2yrsCA$160.95k0.0057%
CA$ 159.5k
Ouma Sananikone-Fletcher
Independent Director6.4yrsCA$121.03kno data
Marc-Andre Aube
Independent Director1.6yrsCA$139.05k0.029%
CA$ 812.7k
Jean-Hugues Lafleur
Non-Independent Director1.2yrsno datano data
Nathalie Francisci
Independent Director8.2yrsCA$130.40k0.00049%
CA$ 13.7k
Pierre Brodeur
Independent Director5.2yrsCA$135.00kno data
Radha Curpen
Independent Director2.6yrsCA$115.50kno data
5.8yrs
Average Tenure
63yo
Average Age

Experienced Board: INE's board of directors are considered experienced (5.8 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/07/21 11:04
End of Day Share Price 2025/07/21 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Innergex Renewable Energy Inc. is covered by 7 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mark WestbyATB Cormark
Nicholas BoychukATB Cormark Historical (Cormark Securities)
David GalisonCanaccord Genuity