19 May '11, 11pm

First Financial Instrument to Hedge Wind Power Variability Risk Now Available

“Wind energy is experiencing strong growth globally and the natural variability of wind has led to conservative financing and a relatively high cost of capital,” said Martin Malinow, Galileo CEO. “Working together with 3TIER, Galileo can now offer developers and financiers an important tool to manage the uncertainty of wind-driven earnings which will create greater capital market access and potentially a lower cost of capital for new projects or refinancings.” Galileo uses 3TIER’s wind resource time series to price and structure WindLockTM products based on expected variability with settlements based on wind speeds provided by 3TIER. Using 3TIER’s weather modeling expertise in generating historical time series helps avoid errors in on-site measurements and isolates wind speed from other factors that can impact power production. WindLockTM products are indexed to wind-drive...

Full article: http://www.renewableenergyworld.com/rea/partner/3tier/new...

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