Green Asset Portfolio Holding
Green Asset Portfolio Holding (GAP Holding) was incorporated with the strategic purpose of offering an asset backed senior secured bond to harness the great potential of renewable energy within emerging countries and allow investor to access profitable investment opportunities, with a positive cash flow guaranteed by government programmes.
GAP Holding identified an investment opportunity to acquire and operate grid connected renewable solar energy assets, selecting Turkey as a strategic market, taking advantage of the devaluation of the Turkish Lira. Although any currency risk is hedged to avoid loss, a further insurance wrap has been put in place to guarantee the revenue from the government FIT programme, with 13 US dollar cent for KWh. This is notably higher than European countries, such as Germany which 4 Euro for KWh or the UK which does not deploy any subsidy.