Mr. Russo is a Certified Energy Manager (CEM) with 35 years of international results-oriented experience in sustainable energy project development, energy efficiency, smart grid development and application, ESCO operation, and EnPC project development. Prior to founding E3 International, Mr. Russo established the standard for sustainable energy project development and financing in transition economies throughout former USSR countries in 1989, with the implementation of the U.S. Government sponsored Development Credit Authority (DCA) in Bulgaria in which 35 energy efficiency projects where implemented with $10 million in debt financing from United Bulgarian Bank. This DCA program was the catalyst for the European Bank for Reconstruction and Development (EBRD) to launch its very first sustainable energy finance facility (SEFF) – the Bulgaria Energy Efficiency and Renewable Energy Credit Line (BEERECL) – which Mr. Russo managed. Based on the success of the BEERECL, EBRD expanded their SEFF (now called Green Economy Finance Facility – GEFF) programs to more than 2 dozen countries/regions, with E3I selected to provide project implementation support to EBRD’s first regional SEFF, the Western Balkans Sustainable Energy Finance Facility (WeBSEFF) since 2009, with a credit line of Euro 177 million
Mr. Russo recently served as the Team Leader (2014-2015) for AfD’s SUNREF East Africa – Sustainable Use of Natural Resources and Energy Financing – credit facility, which focused on transaction advisory services to 4 local banks and numerous project developers throughout Kenya, Tanzania and Uganda to support sustainable energy project development, including 13 grid-connected PV projects totalling 65 MW ($112 million investment). In addition, he has developed 8 grid-connected PV projects ($55 million investment) throughout southeast Europe, including Bulgaria, Romania, Croatia and Macedonia. Over the past 5 years, Mr. Russo has served as Project Manager or Transaction Advisor on 5 sustainable energy projects funded under USTDA grants, including wind projects in Bulgaria, biogas projects in Ukraine, smart grid investments in Romania, and wind/solar investments in Belize.
From 2008-2010, Mr. Russo served on the Board of Directors for Greenergy kft in Budapest – an energy service company involved in sustainable energy project development in Hungary, Bulgaria and Romania. Mr. Russo also served as Technical Director of EETEK, a Hungarian ESCO, and was involved with development of EETEK’s business plan, initial capitalization and eventual sale to FondElec. Prior to starting E3I, Mr. Russo was founder and Managing Director of EnCon Services International, Director of International Programs at Electrotek Concepts, and Director of Solutions Development at EnergyWorks (part of Iberdrola Group), responsible for directing solutions development activities for worldwide utility outsourcing activities for institutional and industrial customers.
