Boralex Inc. announced that Patrick Decostre has been appointed president and chief executive officer, succeeding Patrick Lemaire who will retire on Dec. 31, 2020.
Decostre started as the corporation’s first employee in Europe, where he spent 18 years building Boralex’s footprint and making it France’s first independent onshore wind power producer.
“The Board is proud that Patrick Decostre has agreed to succeed Patrick Lemaire as President and Chief Executive Officer and to become a member of the Board of Directors of Boralex,” said Alain Rhéaume, chairman of the board at Boralex. “After a rigorous succession planning process, it became clear that Patrick Decostre was the ideal choice to lead the Corporation and keep the pace of Boralex’s development. Patrick has built his reputation as a seasoned manager who brings people together and is known for his in-depth understanding of the energy sector, strategic vision and development expertise.”
Lemaire spent 14 years spent growing the Quebec-based company into an international player in the renewable energy industry, according to a press release.
“As head of the Corporation since 2006, Patrick Lemaire’s renown has grown through his ability to drive its growth and transformation, with the help of the management team and Boralex’s collaborators,” added Rhéaume. “Today, Boralex is an established leader in renewable energy in both Canada and France. He accomplished all of this through his transparency, entrepreneurship and respect for everyone around him. On behalf of the Board of Directors, I would like to thank him for making Boralex one of the jewels of Quebec businesses that have expanded abroad. I am also delighted that Patrick Lemaire has accepted to remain a member of the Board of Directors of Boralex.”
Decostre will assume his new role on Dec. 1, while Lemaire will then serve as an advisor to the management team for a smooth transition period until the end of the year.
A physicist engineer with a background in strategic management and leadership, Decostre has worked as Boralex’s vice president and chief operating officer since March 2019 and is based in Montreal. He participated in the development of the corporation’s 2023 strategic plan, which focuses on growing and diversifying Boralex’s solar and wind operations, attracting new customers through a tailored service offering, and optimizing its existing assets and internal processes.
“It’s a privilege to take the helm at Boralex during the Corporation’s 30th anniversary year, and I want to thank the directors of the company for their trust” said Patrick Decostre. “But today, the entire Boralex family wishes to express its deepest gratitude to Patrick Lemaire, a true entrepreneur and leader. I am deeply touched by the trust that Patrick has always shown me, and I am committed, with all my colleagues and Boralex partners, to keep building on the immense legacy he has left us.”
Boralex develops, builds and operates renewable energy power facilities in Canada, France, the United Kingdom and the U.S. The corporation’s asset base is in four power generation types: wind, hydroelectric, thermal and solar. According to a press release, the company is expanding its development activities in its target geographic markets, namely Canada, France, U.S. and Scotland, where the governments’ commitment to sustainable energy transition and economic recovery are being intensified, leading to tendering for the installation of power production facilities using renewable sources.