Equis founders extend winning formula to new “highly focused” Australian renewables outfit
Renewable energy developer Equis has announced the launch of a new, wholly owned subsidiary called GreenPoint Energy (GPE), that will continue to progress the company’s 2.5 gigawatt portfolio of big batteries and wind farms across Australia.
The original Equis, a Singapore-based company that built South Australia’s first solar farm at Tailem Bend, among other projects, was bought by Global Infrastructure Partners in 2018 and later renamed Vena Energy.
Since returning to Australia in 2022, Equis has taken its portfolio from 800 MW of wind projects in Tasmania and five battery energy storage systems (BESS) across four states, to where it stands now, at 12 BESS and wind assets spanning every National Electricity Market (NEM)-connected state.
Among the company’s biggest projects has been the Melbourne Renewable Energy Hub (MREH), the 600 megawatt (MW), 1,600 megawatt-hour BESS that was delivered into full commercial operations in November 2025 in partnership with the Victorian government-owned State Electricity Commission (SEC).
Another two batteries are under construction: the 250 MW/500 MWh Calala BESS in New South Wales, which is due to reach commercial operation in the first half of 2027; and the 200 MW/800 MWh Koolunga BESS in South Australia, due to power up in 2028. While a 200 MW, four-hour project is in the earlier stages in Queensland.
The two major wind farms in the portfolio are the up to 224 MW Bell Bay project near George Town in Tasmania, and the Jackson North wind farm, which proposes to install 600 MW of wind generation and 200 MW of storage capacity near Woleebee in Queensland.
GreenPoint Energy (GPE) will comprise the entire Equis Australia business, which includes an executive staff of 59 and its original founders, David Russell, Roby Camagong and Mahesh Reddy Indluri, who between them have raised and managed $A6.1 billion of equity invested into 250-plus green energy transition assets across 10 countries.
According to Roby Camagong, that depth of experience has created a highly disciplined approach to project selection, contracting, scheduling and risk management.
“The team has a demonstrated delivery track record with 100% of operational assets delivered on time and on or under budget without any operational issues,” Camagong tells Renew Economy, pointing to averages of 6 pct under budget and 3 months early on timing.
“GPE contracts at least 70 per cent of revenue under long-term off-take agreements on a 10-year rolling basis, de-risking cashflows and delivering competitive pricing to counterparties. Currently the portfolio has a 16-year weighted average offtake contract tenor,” he says.
Camagong says the company set a proven track record of achieving grid connection as fast as 7 months on large scale projects, by using its experienced in-house grid modelling team to “swiftly and thoroughly address any queries from network operators/regulatory authorities.”
David Russell, Equis managing director and chair of GPE says the launch of the new company represents the “natural evolution” of Equis’ Australian investment strategy, of signing multiple long-term agreements with investment grade corporates, utilities, and government-backed offtakers.
“Since 2021, we have built a platform that has consistently outperformed competitors while avoiding the pitfalls constraining other market entrants – grid connection queues, planning lead times, contractor availability, and offtake competition,” Russell said in a statement on Thursday.
“By formalising this as GreenPoint Energy, we are providing a dedicated, highly focused Australian vehicle to deliver the energy infrastructure Australia needs to reach its 2030 and 2050 climate goals.”
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