The main project of GEP SA is a Closed “Zielony“ (Green) Investment Fund of Non-Public Assets (www.zielonyfiz.pl).
Zielony – Green FIZ is a fund created by the TFI Skarbiec (www.skarbiec.pl). TFI Skarbiec is the largest independent investment fund company, which currently manages assets of more than 5 billion PLN.
Green FIZ is a unique fund in the Polish financial market. It combines several features previously unavailable to individual investors. The Fund plans to launch production of electricity from renewable energy sources (RES):
1) wind turbines,
2) water-power plants,
3) biogas plants, biomass power plants,
4) devices using solar energy,
5) devices using geothermal energy.
Green is a construction fund: buys ready-made power plant projects in the RES segment, builds and runs the production, and then sells to end customers. The output from the first investments of the Fund (sale of working wind turbine) is planned after 12-24 months of production of current (2014). Thanks to this the Fund is able to generate high rates of return.
Zielony – Green will issue investment certificates. The value of the first issue is 20-130 million PLN (5-22,5 mEuro). The aim of emission is to fund the construction of a park of wind turbines with a total power of approximately 95 MW.
Sale of certificates will begin in Autumn 2011.
The Zielony Fund is being created for 5 years.
In June 2011 the Financial Supervision Commission (KNF) approved the creation of the Closed Green Investment Fund of Non-Public Assets, approved the statutes of the Fund and agreed for BRE Bank SA was the Fund’s custodian bank.