Equis has signed a Power Purchase Agreement (PPA) with Snowy Hydro Limited (Snowy Hydro) for a 100MWAC solar project located near Tailem Bend, South Australia (Tailem Bend Solar Project), which will be constructed alongside a Snowy Hydro owned 28.8MWAC diesel-fired power station. 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. DAVID: If youre intelligent, adaptable, and willing to work hard, you can be very successful without a legal or finance background. DAVID: Ive been forced to rethink of my priorities and came to the realisation that family is always number one to me. Cardinal George Pell has kept an ultra-low profile since walking out of Victorias Barwon Prison on April 7 following a High Court decision to overturn his conviction on charges of historical sex abuse. David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. Called the Lady E, it's available to charter for a cool $767,840 a week. Mahesh has over 14 years experience in infrastructure and real estate funds management across Asia. She tells CBD she will be based in Sydney, rather than the comparison sites Brisbane headquarters. 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, he worked as a commercial lawyer specialising in litigation and dispute resolution for 4 years. Empower. 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. MELPOMENE: Warren Buffet said that a big problem in the boardroom is that nobody wants to criticise the CEO. His work has included regulatory advice, project delivery advice, and transactional advice. A good thing, no doubt. DAVID: Technology and mindsets are evolving rapidly. MELPOMENE: How do you envision the use of renewables in ten years time? Were sorry, this feature is currently unavailable. Entrepreneur, Private Equity Professional, Brighton Grammar School Fees and payments, Senior Managing Director, Head of Asian Private Equity and Head of Greater China, Macquarie, Founding partner of Equis Energy and Equis Funds Group. In 2005-2010, based in Seoul and Hong Kong, David established three infrastructure private equity funds, including one of the first and largest South Korean private funds. Emma Alberici has landed a new gig, and, as promised, it's not on TV. Its a matter of how theyll be utilised. David Russell, Equis Funds Group: Profile and Biography - Bloomberg Markets Sign In Subscribe Live Now Bloomberg TV+ Bloomberg Studio 1.0:Tony Xu, DoorDash CEO Bloomberg Radio The Big. David Russell 1) Director, Clinical Research, Institute for Neurodegenerative Disorders; 2) Senior . Craig Marsh settled upon a black McLaren with carbon-fibre trims. 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. Do you worry about that? After building the Korean private equity business, I felt that it was time to do it myself rather than rely on an institutional brand. In 1998, David joined Macquarie Group, where he spent 12 years. In Equis, all the senior people feel like theyre involved in the decision-making process and in terms of remuneration, its a meritocracy here. MELPOMENE: Does the intermittency of solar and wind energy coupled with the lack of storage capabilities mean theres a limit to how much you can invest? "I understand now how people can love a person who does awful things. "He was sitting in the middle of a long dinner table, and there was no one sitting opposite. Founding partner and chief executive David Russell has reportedly paid close to $20 million for the Melbourne 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 of IT entrepreneur Danny Wallis. In 10 years, buildings can be fitted with solar panels and your phone could double as a storage device. Mindy has over 14 years experience in infrastructure, power and renewable energy in Australia and South East Asia. When I started out of university, my peer group worked really hard and they were more dedicated. 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. David Russell works as a Chief Executive Officer & Partner at Equis, which is a Finance company with an estimated 83 employees. Its not all hindsight. 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. Andrew has over 20 years' experience with energy infrastructure projects, specialising in thermal energy project development and construction. As the CEO and Chairman, David grew Equis Energy to become Asia-Pacifics largest renewable energy generator. See our. Thomas has over 20 years experience working in a range of business development and energy trading roles. Theres a lot of information coming at you and you need to have the ability to identify the issue thats embedded in that information. MELPOMENE: Have you ever been forced to rethink your life? That makes you focus harder, question harder and dig deeper until youre personally satisfied with solutions. It plans to commit more than US$2billion into renewable energy and waste infrastructure assets across Australia, Japan and South Korea over the next twoyears. The former ABC chief economics editor is writing a book for Hardie Grant, Rewrite the Story. CRICOS Provider Code: 00132K. Prior to joining Equis, Vincenzo held roles with Canadian Solar, Raygen Resources, ABB and various European solar companies and technology providers. EY Entrepreneur of the Year (Ernst & Young Singapore), Senior Alumni Award (National University of Singapore School of Business). 2023 High Net Worth All rights reserved. But obviously within large institutions like Macquarie, there are limits to how much an individual can influence the direction of the business. 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. We have the saying: You eat what you kill. We felt that we deserved to be paid well because we were certainly working hard. All rights reserved. That is unheard of in other places but that was the Skadden mindsetthey were tough and uncompromising. Some of these people want to take a shortcut instead of working hard and they may cut corners, which is unlawful. Ronni Kahn, founder of the OzHarvest Charity, has a memoir coming out, titled A Repurposed Life. MELPOMENE: Why did you decide to strike out on your own? "Australia represents one of the most exciting solar power generation markets globally and Equis expects to build over $1 billion of new projects over the next 24-36 months," director David Russell said in the press release. MELPOMENE: How has it been different at Equis? Senectus et netus et malesuada fames ac turpis egestas sed. The estimated Net Worth of David Eugene Russell is at least $45.3 Million dollars as of 11 November 2021. Equis Funds Group CEO 2010 Equis Energy Director Equis Managing Director Education in Painting/ Art History from the University of Tulsa. Warnie, whose acumen in real estate is starting to rival his spin bowling prowess, had bought the 3000sq m property, which he once dubbed his favourite house, for $14.25m, 18 months before selling it to the Russells. Our locally based staff boast a strong understanding of rural and regional Australia. In the Philippines, Equis commissioned a 30 MW solar project in Leyte and a 54 MW wind project in Rizal, as well as two solar projects in Japans Hiroshima and Hyogo prefectures with total generation capacity of 21.4 MW. 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. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. Brighton Grammar is a leading private boys school in Melbourne, understanding boys from ELC to VCE. He studied Law/Economics at Monash University and worked as an energy and utilities lawyer with Skadden, Arps, Slate, Meagher & Flom in Washington and with Minter Ellison in Melbourne. CBD hears that her ABC redundancy payout was in the vicinity of $300,000. Russell also chairs Equis Foundation and CSS Foundation, and plans to open a Russian community centre to support disabled and foster children and their parents. We may no longer need to build big cathedral type power facilities and expensive distribution systems. Will His AI Plans Be Any Different? Prior to joining Equis, Damian spent over 18 years at Macquarie and was the Head of Infrastructure, Utilities and Renewables (Australia and New Zealand) for Macquarie Infrastructure and Real Assets, one of the worlds largest infrastructure owners and developers. We definitely know a lot of people, but this business was not built on that. Building firm Davies Henderson, architect Christopher Doyle, gardening designer Paul Bangay and interior architect Thomas Hamel dont come cheap. MELPOMENE: Why did you decide to target Asian markets? David Russell 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. 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. It works better for senior management, while the junior staff is more interested in salary and annual bonuses rather than something that could be paid out 5 or 10 years later. One of my early mentors said, David, if theres one thing I can teach you about doing business is that whatever you do, you must always act lawfully.. Monash University. He has delivered assets across the Asia-Pacific. Marsh was revealed as the buyer of a knock-down-rebuild in Mosman for $6.88 million, as well as a waterfront in Noosa Heads for about $4 million, also slated for redevelopment. We are committed to using innovative, responsible and sustainable practices to help Australia reach a carbon free future. DAVID: People dont understand the industry, its very complex and even I dont understand some parts of it. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. DAVID: I do. 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. Now the four-car basement garage is expanding to fit six, while the basement will accommodate a theatre, rumpus room, wine cellar, arcade room, plus a "modelling/crafts" room. We are committed and responsive to the communities we serve. Credit:Jason South. Singapore, 1 February 2017 Equis Energy (Equis), Asias largest independent renewable energy developer and investor, recently approved the development, construction and operation of two solar projects in South Australia and Queensland, Australia with a total generation capacity of 200MWAC (Projects). Here in Singapore, we talk about how to implement their strategies as well as manage the risk consistently across the different geographies. 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. Equis Development has announced investments into the South Korean waste and solar markets, and the Japanese biomass market. Once I became nobody, a lot of those people actually went silenta number of them obviously felt that while our relationship was important, it was based on our work together. The Tailem Bend Solar Project will be one of the lowest cost solar projects in Australia. DAVID K. RUSSELL. Construction of the Tailem Bend Solar Project is expected to commence in early 2017. Theres a whole bunch of things on there that I really dont want to do [laughs]. They used to work at Macquarie. DAVID: I sound really old when I say this [laughs], but I feel there is a generational shift. Were working to restore it. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 We think that the biggest renewable energy market is solar and we have to keep ahead of that technology curve. MELPOMENE: Given that R&D in this sector is changing so quickly, are you concerned that your solar and wind facilities might become obsolete? Were a lot happier not only making money but also making a difference. Abigail Koch, Compare the Market general manager public relations, said they had been "smashed" by media requests. Weve got more than enough to invest in that space, and storage is just going to multiply that demand for capital. Russell received his M.F.A. The Tailem Bend Solar Project and Collinsville North Solar Project will: The Tailem Bend Solar Project and Collinsville North Solar Project will be two of Australias lowest cost solar generation projects and will contribute low cost solar power and new jobs into regional communities. 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. Interest is certainly high. Additionally, David Russell has had 1 past job as the Senior Managing Director at Macquarie Group. Mr Russell, the co-founder of Equis an offshore private equity group, has slapped a caveat on Shane Warne's Melbourne mansion in a deal worth close to $20m and is believed to be readying to fork out a further $22m for a Noosa beachfront home in what is a record price for the Queensland holiday region. When the money cleared, the partners of Equis went shopping to celebrate. DAVID: Theres an element of that. In 2010, David founded Equis Funds Group, Asia-Pacifics largest independent infrastructure private equity manager. MELPOMENE: Is it important that the work you do creates value for society? David Russell Helping Scaling SaaS and Renewables companies find the best talent Ireland. Ive always worked long hours and that hasnt changed. Bibendum arcu vitae elementum curabitur vitae nunc sed velit. US$5 billion sale of Equis Energy prompts Craig Marsh's high end real estate splurge, The Rosenthal family owned this three-bedroom house at Clifton Gardens since the 1940s. Does Joo Chiat Need Another Italian Joint? DAVID: Its definitely not who you know. DAVID: The level at which you can supply renewable energy into the grid is actually quite highfor example, Germany is at around 50% now and theyre targeting 100%. Ed has managed $13b of electricity regulated and commercial assets as GM for AusNets Transmission and Distribution networks. Like the Mosman house, Marshs purchase on the Noosa waterfront is also expected to be a rebuild, withDA plans for a rebuild already lodged with Noosa Council.