February 1, 2012
3TIER Uses State-of-the-Art Science to Help Financial Stakeholders Mitigate the Risk of Wind and Solar Power Variability
LONDON—3TIER®, a global leader in renewable energy assessment and forecasting, today announced the opening of a new EMEA office in response to increasing demand for the company's services in Europe, the Middle East, and Africa. The new office, located in the UK, will give wind and solar developers, operators, and financiers direct access to 3TIER's state-of-the-art services to mitigate the risk of wind and solar power variability. Steve Ross, who was previously commercial director–renewables for the MeteoGroup and has over 11 years of experience in the European energy market, has been named managing director and will oversee 3TIER's EMEA operations.
"3TIER enjoys an outstanding reputation in Europe and throughout the EMEA region, and our business there has grown steadily," said Craig Husa, chief executive officer of 3TIER, "The need in these markets for scientifically-based site assessments to secure project funding and more accurate operational forecasting services to manage production is greater than ever. We are fortunate to have someone with Steve's credentials and relationships on-board to broaden the impact of our unique capabilities. Financial stakeholders in wind and solar power generation will now have easier access to the most accurate and objective resource analysis available, enabling them to better mitigate risk and make critical decisions with confidence."
Founded in 1999, 3TIER pioneered combining on-site observational data with numerical weather prediction modeling to forecast the long-term potential and expected variability of wind power production. With experience on over 650 wind projects on six continents, the company's approach typically achieves a higher degree of certainty and provides a more accurate quantification of risk than more traditional methods. 3TIER is also a dominant force in short-term operational forecasting. It services over 40% of North America's installed wind capacity, and its forecasting business is growing rapidly in the UK, India, Australia, and elsewhere. In recent years 3TIER has also augmented its solar assessment and forecasting capabilities. In 2011, it conducted risk analysis studies in the US, India, and Australia that helped secure over $4.6 billion in public and private financing and loan guarantees for the development of utility-scale solar projects. As a result of these advancements, the company regularly appears on lists of America's fastest-growing companies.
"3TIER has driven the science of renewable energy resource analysis further than anyone in the industry," said Steve Ross. "The level of support and commitment across the region to what 3TIER can and has been delivering to the wind and solar markets for many years is extensive. There is a shift in the appreciation of using scientific skills that 3TIER has in abundance, by an industry that relies on more engineering-oriented approaches."
In addition to its scientific expertise, 3TIER is also a leading innovator in data management, delivery, and visualization. The company has built a proprietary information services platform that offers high levels of automation, enabling clients to integrate data seamlessly into their own systems, or use 3TIER's highly refined and customisable web-based dashboard. While these tools facilitate more efficient operations, clients still have considerable access to 3TIER's highly qualified and experienced scientists.
European renewable energy stakeholders who are interested in learning more about 3TIER's approach will have two opportunities at EWEA 2012 in Copenhagen. Michael Grundmeyer, 3TIER's managing director of risk products, will be chairing a panel on "Mitigating Renewable Energy Risk." Dr. Pascal Storck, 3TIER's chief operating officer, will also give a presentation entitled, "The Impact of Real-Time Meteorological Measurement Stations on Regional Short-Term Wind Energy Forecasting Accuracy."
For more information about 3TIER, please visit http://www.3tier.com/europe.
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