Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Secondly, hierarchical environments create ceilings and politics. Did you feel restricted by that? David Russell is the founder and CEO of Equis, a company that evolved from its roots as a funds management business to an infrastructure asset development company, Equis Development, in 2019. Save 397,400 tonnes of greenhouse gas emissions each year or the equivalent of removing 83,860 passenger vehicles from Australian roads. Singapore, 27 March, 2017 In 2015, Equis, Asias largest independent renewable energy investor, commissioned nine (9) solar, wind and hydro projects in India, Japan and the Philippines, with a total generation capacity of 407.4 MW. My partners and I put everything into this businessfinancially and personallyand if it were to fail, we would sink with the ship. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Everything comes back to the numbers. But there are a number of governments that came up with programmes to encourage investments in renewable energy. There are already storage systems that are very profitable, and one of them is pump storage. Those who want to work 9 to 5 will be successful in certain types of careers, but what we do here requires a lot of hard work. David Russell, Equis Group CEO, commented, As Asias largest renewable energy developer and investor, the Tailem Bend Solar Project represents an exciting expansion into Australia for Equis and an unique opportunity to leverage our development and construction expertise to deliver low cost, large scale, reliable renewable energy for Australian consumers., Mr Russell noted, By developing the Tailem Bend Solar Project and Snowy Hydro diesel projects together, the combined system will have the capability of providing stable power any time of the day across the entire year. I also have a responsibility to the company in this respect, and were trying to be more socially orientated now. Alberici vowed she would never front a TV show again after exiting the ABC. Ltd. MELPOMENE: How do you envision the use of renewables in ten years time? Now, the pendulum has swung from us being very quiet about our growth, to people asking questions because were the largest renewable energy developer in Asia. DAVID: I get people coming out of Europe and the U.S. saying that theyre worried about Asian re-regulation risk and governments taking away our assets, but that happens even in Southern Europe. While were driving for business success, we formally make a point to give back to the community. I think that helps people remain human in this business. The company was part of reportedly the largest global renewable energy transaction in history in 2018 when its subsidiary, Equis Energy, was sold to Global Infrastructure Partners for US$5 billion. Snowy Hydro is a leading integrated energy business in Australia which currently owns and operates 5,500MW of generation capacity across Australia, including the iconic 4,100MW Snowy Hydro-electric Scheme. Bibendum arcu vitae elementum curabitur vitae nunc sed velit. Ltd. Industry: Private Equity Position: Chief Executive Officer & Director Ownership Type: Individual Date Status Acquired: 10/01/2010 Ownership Stake: Less than 5% Employment Details Company/Fund Name: Equis Pte. MELPOMENE: What gave you the foresight to begin investing in renewable energy in 2011? David.Russell@sbs.ox.ac.uk Sad Business School University of Oxford Park End Street Oxford OX1 1HP Profile David Russell has joined Sad Business School as an Executive in Residence, after having led the Education and Training Foundation (ETF) in England as CEO for 8 years and having previously served the UK government for 16. Vignesh has over 7 years experience in infrastructure investment and development across Asia. Representatives for the Catholic Church and Pell did not return calls and emails on Thursday. As the former CEO and Chairman of Equis Energy, David raised and invested over AUD$ 7.9 billion of equity in independent and institutional infrastructure funds across Asia-Pacific. And while the neighbours wont notice much of a difference from the historic frontage, it is clear where the vast outlay is going. At one point, Pell who was dressed in what one observer described as "priestly regalia" gave a short speech and toast. David Russell, Equis Chairman, said: "As Asia-Pacific's largest renewable energy IPP, Equis is pleased to be playing an important role in Taiwan's transition to low-cost, clean energy. In contrast, if you look at Spain, the government gave concessions to the developers but re-regulated when they realised they couldnt afford to buy power. The Tailem Bend Solar Project will be one of the lowest cost solar projects in Australia. Instabilities in the region may give others pause, but we seek opportunities amidst them to keep growing. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. Hartford, Connecticut, United States. Youre always very careful when you speak to people and you disagree politely, rarely do people ever thump the table and storm out like they do in movies. These days, Equis Development is setting its sights on consolidating its position in Asias renewable energy and biomass power generation markets, having developed more than 200 renewable energy and waste infrastructure projects across the region. DAVID: Yes, and theyve gone down a certain path that they may not even be aware of until they eventually just take it too far in trying to make money. David Russell, Equis Funds Group CEO, said, This year Equis expanded our renewable energy investments in both India and Japan, and added two major projects in the Philippines. The Company was formed in 2019 through the restructure of the Equis business model from a funds management business to an infrastructure asset development company. Asia-Pacific-focused renewables designer Equis Development Pte Ltd has actually taken control of an AUD-1.9-billion (USD 1.28 bn/EUR 1.23 bn) battery energy storage space project near Melbourne, Victoria, and is now relaunching it with a new name as well as increased capacity. Russell, who attended Brighton Grammar and Monash University, will be back on board this weekend to host his James Bond themed birthday party. He led Equis development of wind and hydro projects in India. After her August departure from the ABC, and fresh from recharging the batteries in Byron Bay, the former chief economics correspondent is joining online insurance comparison platform Compare the Market. Interest is certainly high. MELPOMENE: Is it important that the work you do creates value for society? Empower. . ", Emma Alberici has landed a new gig, and, as promised, it's not on TV.Credit:ABC. David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. Where: Developed markets across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea. DAVID: They worked hard. Readers will recall Pell spent his first night of freedom upon his release in the Carmelite Monastery in Melbournes Kew, before being driven to the Seminary of the Good Shepherd in Sydney's Homebush. As for the finance background, well, youve got to know the numbers when it comes to running a business. Consequat id porta nibh. Andrew has over 18 years in Australian large-scale renewable energy and has previously held senior positions at ENGIE, Goldwind and WSP where he was responsible for the development, construction, and delivery of primarily large-scale wind and storage projects. Does Joo Chiat Need Another Italian Joint? David is also the founder and Chairman of the CSS Foundation, which is focused on supporting vulnerable parents and children in Australia, Russia, and the Philippines. David Russell, Equis Managing Director, stated "Jara represents a pivot by Equis into more integrated renewable energy Shane Warne sold the Brighton mansion for about $20m in 2018. There is no substitute for hard work. Several months earlier a consortium led by Global Infrastructure Partners (GIP), with partners including the China Investment Corporation sovereign wealth fund, had agreed to buy the renewable energy asset portfolio of Equis, a Singapore-headquartered independent infrastructure asset manager, for $5 billion. But what has changed is the level of desperation applied to the business when its your own. Equis is actively pursuing infrastructure development and investment across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea. DAVID: Years ago, we were just moving paper around. MELPOMENE: Do you ever watch popular films that depict the financial industry? They had reason to celebrate. Mindy has over 14 years experience in infrastructure, power and renewable energy in Australia and South East Asia. MELPOMENE: Are you worried that the South China Sea dispute will affect investor confidence in the region? Photo: Domain. MELPOMENE: The project developers dont have the discretion to make decisions locally? DAVID: We have that in our business model by having compensation tied to the performance of the business through carried interest. Will Others Follow? Separately, development approval has recently been obtained from the Whitsunday Regional Council for a 100MWAC solar project in Collinsville North, Queensland, Australia (Collinsville North Solar Project), to be constructed on land close to the Collinsville North substation. MELPOMENE: Large corporations are almost inevitably hierarchical. Craig Marsh settled upon a black McLaren with carbon-fibre trims. It could become micro power grid systems where power is generated and distributed locally. In Asia, power has always been the number one sector to invest in, not renewable energy. As the former CEO and Chairman of Equis Energy, David raised and invested over AUD$ 7.9 billion of equity in independent and institutional infrastructure funds across Asia-Pacific. But maybe thats a good thing, you see all these people whose primary focus has been work all their lives and sometimes when a death happens in the family, all of a sudden they stop and go: What am I doing? We may no longer need to build big cathedral type power facilities and expensive distribution systems. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today. She tells CBD she will be based in Sydney, rather than the comparison sites Brisbane headquarters. MELPOMENE: Given that R&D in this sector is changing so quickly, are you concerned that your solar and wind facilities might become obsolete? MELPOMENE: Whats one thing off the top of your head? MELPOMENE: Those who behave egregiously are a very small percentage of the industry. Emma Alberici has landed a new gig, and, as promised, it's not on TV. As CEO, David has raised and invested seven infrastructure private equity funds comprising over US$5 billion of equity for some of Asia-Pacifics largest independent and institutional infrastructure funds. Founding partner and chief executive David Russell has reportedly paid close to $20 million for theMelbourne estate in Brighton of cricket legend Shane Warne, and added a Noosa getaway of his own when he paid $18 million for the Sunshine Beach house ofIT entrepreneur Danny Wallis. In MinterEllison, you tend to work more with the general counsel but at Skadden, youre working directly with the CEO and CFOs. These people deserve to be caught and punished, but they are certainly not the norm in the industry. But her kids thought he was a phoney. By submitting this form, I agree to these terms and conditions. So by removing the glass ceiling, we dont lose our senior people as we grow. The newspapers report big losses and movies like Too Big to Fail contribute to that negative impression. His work has included regulatory advice, project delivery advice, and transactional advice. David Russell Regional Sales Manager NSW/ACT at Dialight APAC - World Leader In Hazardous and Industrial LED Lighting solutions . And you find that project developers tend to be more risk seeking, so its better to have someone whos more risk averse to balance their decision-making. CRICOS Provider Code: 00132K. I like to think that I dont have a fear of heights, but the idea of jumping out of a plane and not knowing for sure if the parachute is going to work can be intimidating. Co-Founder, Managing Director. MELPOMENE: Steve Jobs said that you can only connect the dots looking backwardsis that true of your experiences? I was hoping that it would be a motivator for everyone, but thats me sitting here thinking about it as a 40-year-old. So while I was growing and being mentored, I had that slight frustration. Pell, according to CBD spies, was seated at the middle of a long table, with about a dozen people, and knew some of the guests at smaller tables flanking the high table. When I left my previous employer, I didnt realize how risky it actually was. Some $1.3 billion of that was assumed liabilities, but still, it was a landmark: $3.7 billion of equity, the vast majority of it in unrestricted cash. MELPOMENE HUA: Why did you decide to be profiled after years of being under the radar? MELPOMENE: Why did you decide to target Asian markets? Abigail Koch, Compare the Market general manager public relations, said they had been "smashed" by media requests. Equis has also secured land rights over an additional 2,000 hectares allowing for an additional 1,000MWAC of large scale solar projects to be constructed over the near term. David Russell, Equis Group CEO, commented, "As Asia's largest renewable energy developer and investor, the Tailem Bend Solar Project represents an exciting expansion into Australia for Equis and an unique opportunity to leverage our development and construction expertise to deliver low cost, large scale, reliable renewable energy for . David Russell who has made his fortune as the cofounder of Singapore-based private equity group Equis has been spending time aboard the impressive vessel with his family. Tel: +65 6220 0040, Legal Notice & Terms of Use Marshs spending spree only came to light after he settled on his Mosman purchase of a 1940s house on waterfront reserve in Clifton Gardens from the Rosenthal family. He covers the Asia Pacific region and is based in Singapore. The proceeds of the biggest renewable energy deal in history have helped Equispartner Craig Marshfund a $10 million-plus waterfront property spending spree. Apparently Pell was flanked by a number of priests. Ronni Kahn, founder of the OzHarvest Charity, has a memoir coming out, titled A Repurposed Life. But what were we adding back to society? Equis Energy , AsiaPacific's largest renewable energy IPP, has been awarded a contract by Taiwan's Ministry of Economic Affairs' Bureau of Energy (BOE) to develop a 70.2 MW solar project in Chiayi County's Yizhu Township. Prior to joining Equis, Andrew held senior roles at WorleyParsons and Toshiba. He has also written two books. It was during that painful life phase that Kahn had an idea: taking beautiful food left over from her events business and using it to feed people in need. DAVID: Yeah, a number of them obviously felt that while our relationship was important, it was based on our work together, so they were more likely to do business with Macquarie than some guy whos just starting out. Theres a whole bunch of things on there that I really dont want to do [laughs]. In addition, Equis has completed a further 33 utility scale renewable energy projects in Asia over the last 3 years or on average 1 project every 5 weeks. Equis CEO David Russell is a key player in the Asia Pacific region's renewable energy game David Russell is the founder and CEO of Equis, a company that evolved from its roots as a funds management business to an infrastructure asset development company, Equis Development, in 2019. Equis' team brings focus, experience, passion and conviction. We think in 5 years, it will revolutionise utility-scale power and in 10 years, it may completely revolutionise power. Chris Wright is Asia editor. In 1998, David joined Macquarie Group, where he spent 12 years. The clearance of funds that day in January 2018 marked the conclusion of the biggest renewable energy sale ever completed. David Russell, partner and co-founder of Equis comments, "Following a number of significant and successful divestments including the sale of the Equis Energy portfolio to Global Infrastructure Partners, we have identified significant new investment and growth opportunities and Mark's appointment to the partnership will significantly strengthen . In October 2017, Equis sold Equis Energy to a Global Infrastructure Partners led consortium for US$5 billion, the largest renewable energy transaction in history at the time. Founder and leader David Russell got a yellow Lamborghini; his brother Tim, a personalized orange Porsche. Prior to joining Equis, Liz held planning and permitting roles at Goldwind. Its interesting how that has come full circle. Greater Newcastle Area. DAVID: Ive been forced to rethink of my priorities and came to the realisation that family is always number one to me. Its human to fear what you dont understand. Marshssplurgefollows the US$5 billion sale of renewable energy firm Equis Energy to US fund Global Infrastructure Partners in January, billed in financial media as the largestrenewable energy generation acquisition in history. That makes you focus harder, question harder and dig deeper until youre personally satisfied with solutions. David Russell attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. Over there, our local guys are empowered to identify and drive growth from bottom up. So guests at Sydneys Alfredo restaurant at Circular Quay did a double take when they walked into the harbourside institution and spotted the Cardinal on Wednesday evening. DAVID: When we first set up Equis, foreign investors wanted to talk about China and India, and they weren't focused on markets like Thailand and the Philippines. The estimated Net Worth of David Eugene Russell is at least $45.3 Million dollars as of 11 November 2021. MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? He also has extensive investment and Mergers and Acquisitions experience in renewable energy across Asia. In Blacklisting Inspur, US Targets Partner Used by Intel and IBM, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Bolsonaro Says Mission Isnt Over as US Conservatives Fete Him, Biden Closes In on Order to Restrict US Investment in China Tech, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61. We felt that we deserved to be paid well because we were certainly working hard. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 Craig Marsh settled upon a black McLaren with carbon-fibre trims. When I started out of university, my peer group worked really hard and they were more dedicated. We were partly fortunate because the investor market had not focused on renewable energy the way it should have, and that gave us a 6-year head start. Prior to joining Equis, he was the Head of Trading and Wholesale Markets at Goldwind Australia. Outside of work, its important to be approachable and to talk to people, grab a beer with them, and let them know that I shouldnt be treated differently. In 2010, David founded Equis Funds Group, Asia-Pacifics largest independent infrastructure private equity manager. You cant teach smarts, you either have a certain level of capability or you dont, and you have to be adaptable in this business. A good thing, no doubt. DAVID: They are expected to chase and secure opportunities, and I review their decisions just to make sure that what we put in place for, say the Philippines, is consistent across our entire business. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 MELPOMENE: You were well-connected and had the expertise, but was it still a risky move? The leafy streets of Brighton are mostly quiet, except at one of the suburbs most famous residences, Melville, the six-bedroom, six-bathroom single-level Middle Crescent mansion. DAVID: Broadly speaking, it can affect investor confidencefor example, when the coups in Thailand hit the papers, people started calling us to ask about their investments. David is also . Vincenzo has over 15 years experience with renewable energy infrastructure projects, specialized in solar and BESS project development and construction. At work, I am direct with people and I encourage them to be the same with me. MELPOMENE: Has ownership changed your motivation towards work? We are committed to using innovative, responsible and sustainable practices to help Australia reach a carbon free future.