3Tier Cuts Deal With Bloomberg to Bring Wind Energy Tool to Wall Street
Seattle-based 3Tier, the company that uses supercomputers to map the best spots in the world for setting up solar and wind energy projects, has found a way to put its tool in front of a lot more people with money to bankroll the work.
3Tier said today it has formed a partnership with Bloomberg New Energy Finance to offer what the companies call “the world’s first real-time, interactive wind asset valuation tool.” The new function on Bloomberg’s proprietary terminals will enable its subscribers to get current information on 3,400 wind projects around the world, with data on tariffs, local electricity market rates, inflation, cost of turbines, and available wind resources. Financial terms of the partnership aren’t being disclosed.
Bloomberg—the financial information and media powerhouse where yours truly happened to work before joining Xconomy—has been expanding its offerings beyond its traditional base in markets like those for stocks and bonds. 3Tier, founded in 1999, has long had its eye on providing its wind and solar information to folks at utilities, and big corporations who want to know what they’re getting into before they sink $100 million to $200 million in a big renewable energy project.
And, evidently, so do the financial types who help underwrite the work. The new data from 3Tier “permits robust scenario analysis based on best-of-breed wind and market data, without the need for privileged access to the project’s historic production data,” said Michael Grundmeyer, 3Tier’s vice president of business development, in a statement.