A Belgian company close to the Desmarais clan, whose second shareholder is France Chrétien-Desmarais, is asking Hydro-Québec, Prime Minister François Legault, the Minister of Energy and many cities to buy energy.
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“Steps to obtain the various permits and permits, as well as the required electrical power, to build renewable energy generation projects,” the lobbyists’ registry reads.
As Secretary of Energy Pierre Fitzgibbon warns there will not be enough electricity for all projects, green hydrogen company TESCanada H2 inc. mentions that she wants “a power block from Hydro-Québec.”
File photo, Francis Halin
Minister for Economy, Innovation and Energy, Pierre Fitzgibbon, during a recent speech on renewable energy in Montreal.
According to the company register, the first majority shareholder of TESCanada is H2 Tree Energy Solutions BV, a Belgian company with offices in Europe, the United States and the United Arab Emirates.
Its second shareholder is FCD Inv. Inc., owned by France Chrétien-Desmarais, CEO of TESCanada H2. She was the majority shareholder until last Friday.
Photo from linkedin
France Chretien Desmarais
France Chrétien-Desmarais is the daughter of former Prime Minister Jean Chrétien. She is the wife of André Desmarais, Executive Vice President of the Power Corporation of Canada.
Power defector
According to the company register, the most senior manager of TESCanada H2 is Éric Gauthier, a former manager in the energy sector at Power.
Photo from linkedin
Eric Gauthier
Prior to joining TES, Éric Gauthier was Director and Head of Capital Markets for Power Sustainable Capital’s $1.6 billion energy infrastructure fund in partnership with Power Corp. connected is. Mr. Gauthier began his career at Power in 2014 after studying at HEC Montréal. According to Power’s website, “He participated directly in Power Energy’s investments” in Lumenpulse and Lion Electric. He also sits on the board of the LMPG.
Quebec will invest nearly $1.2 billion
Two years ago, after attending COP26, Prime Minister François Legault was seduced by the potential of the green hydrogen sector.
“Brace yourself, you’re going to be hearing a lot about this in the coming months and years,” he told La Presse.
Since then, the sector has developed with two major projects in Baie-Comeau (Hy2Gen and Universal KraftCanada Inc.). In July 2022, the Legault government launched a call for expressions of interest for the creation of green hydrogen and bioenergy production, distribution and consumption projects.
Overall, Quebec plans to invest nearly $1.2 billion in the green hydrogen and bioenergy sectors over the next few years.
TESCanada declined our interview requests yesterday, but its spokesperson confirmed it wants to “implement an innovative renewable energy project” and begin “discussions with future public partners.”
TESCanada H2 Inc. at a glance
- First majority shareholder: Tree Energy Solutions BV (Belgium)
- Second shareholder: FCD Inv. incl. (Ottawa)
Administrators:
- Paul Van Poecke
- Marcel van Poecke
- President of the Board: France Chrétien-Desmarais
Leader non-members:
- Secretary: Paul C LaBarge
- Executive – CEO: Éric Gauthier
Source: Quebec Business Register
In its Green Hydrogen and Bioenergy 2030 Strategy, the Quebec government states that green hydrogen “is produced from electricity from renewable sources or biomass, therefore with a low carbon intensity in contrast to gray hydrogen produced from fossil fuels”.
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