T-REX, a software solutions provider for financing of renewable assets, announced that it has partnered with Veracity by DNV GL to combine financial technology with big data across the renewables’ sector. T-REX will extend its financial modeling and analytics platform to the Veracity marketplace, bringing turnkey energy project finance solutions to this ecosystem of asset owners, operators, and analytic providers.
T-REX translates performance data of power-generating assets into financial models for better decision making across the investment lifecycle — from developers to lenders to end investors.
“This partnership is an outstanding example of how ‘fintech’ and big data together have the potential to move markets,” said Scott Miller, CBDO of T-REX. Fintech includes software and technology that is used to support banking and financial services.
“Given the highly nuanced nature of renewables, typical project finance tools are unable to provide the analytical precision required to properly assess and price related financing risk,” added Miller. “As a result, many high potential projects don’t receive adequate funding. T-REX fills this gap by combining renewable energy asset class expertise with SaaS technology. With T-REX, you can efficiently interpret massive quantities of physical asset data to expose the underlying value proposition of renewables projects.”
Veracity is a secure platform facilitating exchange of datasets, APIs, applications and insights. Through Veracity, DNV GL offers its institutional subscriber base access to a range of specialty applications.
“We are committed to adding value to subscribers’ user experience by continuing to expand our offering of specialty applications,” said Bjørn Tore Markussen, Head of Veracity at DNV GL. “T-REX brings additional value to the marketplace, filling a need for energy project finance solutions. With T-REX onboard, we come that much closer to building a one-stop hub for energy industry solutions that cover the full value chain.”