We have learned that the former head of Investissement Québec (IQ), Pierre Gabriel Côté, is negotiating with his former employer for public financing of a solar panel factory project and an associated research and development center The newspaper.
“Colleagues from Resources Québec, the entry point for companies seeking to invest in the natural resources and energy sectors in Quebec, met with the company and Mr. Pierre Gabriel Côté,” Quebec government investment department spokesperson Isabelle Fontaine confirmed to the Journal .
Last October, Le Journal reported that the former CEO of IQ (2015-2019) had registered as a lobbyist for Awendio Solaris Limited, whose parent company is the English company Adsila Holding Ltd. is.
We learned that the former general delegate of Quebec in London (2019-2021) wanted public money to build “a factory to produce photovoltaic cells and solar panels.”
“Very preliminary” discussions
In recent days, IQ told the Journal that there have since been numerous meetings with the company and Pierre Gabriel Côté, noting that discussions with the British company are still “very preliminary.”
“It is our policy not to publicly discuss the details of the discussions we have with project developers or customers,” recalls IQ.
“Any financial intervention carried out by IQ is subject to rigorous due diligence and is evaluated for performance based on its impact on economic development,” assured its spokesperson Isabelle Fontaine.
Michel Séguin teaches the ethical dimension of business management. Photo provided by UQAM
Transparency requirement
According to Michel Séguin, professor and ethics expert at UQAM, this issue will continue to require “great transparency and rigor” from Investissement Québec.
“This requires a stronger commitment to transparency to demonstrate the relevance of the project. “There should be nothing wrong with this matter,” he noted.
The Journal was unable to obtain an interview with Pierre Gabriel Côté on Tuesday.
Six years ago, when he was at the helm of IQ, Pierre Gabriel Côté gave up on increasing his car bonus from $19,000 to $30,000 because he wanted to trade in his Porsche for a Tesla.
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