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Glossary
The key terms around wind energy, precious metals, real estate and our role – explained briefly and factually.
- Bonded warehouse
- Storage facility outside the customs territory where goods such as precious metals can be stored without import VAT. Often used for storage outside the banking system; access and jurisdiction should be checked beforehand.
- Continued operation
- Running a wind turbine beyond the end of its EEG tariff. Requirements are a positive structural assessment, a route to market for the electricity and a viable maintenance concept.
- Decommissioning
- Complete dismantling of an installation including the foundation and restoration of the site. Operators usually have to provide a decommissioning bond; recycling rates for wind turbines exceed 90%.
- Double opt-in
- Two-step consent: after filling in a form, the person confirms by clicking a link in an e-mail that the address belongs to them. Only then is it stored – this is how our whitepaper delivery works, too.
- EEG (Renewable Energy Sources Act)
- German law guaranteeing operators of wind, solar and other renewable installations a fixed feed-in tariff for 20 years. Once that period ends, installations are referred to as post-EEG.
- Full-service contract
- Service agreement with the manufacturer covering maintenance, repairs and often an availability guarantee at a fixed price. Usually expires with the EEG phase; afterwards independent service providers often take over.
- Investment advice / investment brokerage
- Financial services requiring a licence (Section 34f GewO or KWG): advice is a personal recommendation of a financial instrument, brokerage is initiating or evidencing a specific transaction. A referrer provides neither.
- Pooling (portfolio approach)
- Operating several installations as one whole so that technical risks, maintenance costs and reserves are spread across a portfolio. Equivalent to the principle of diversification in investing.
- Post-EEG
- Term for installations whose 20-year EEG tariff entitlement has expired. They continue to produce electricity but must sell it at market conditions – usually via direct marketing or power purchase agreements.
- Price-to-rent multiple
- Purchase price of a property divided by annual net cold rent. A multiple of 25 means 25 years of rent equal the purchase price – the inverse of the gross rental yield (here 4%).
- Private placement
- Offering a participation to a limited, individually approached group of people – without public advertising. Under certain conditions (Section 2 VermAnlG) the prospectus requirement then does not apply.
- Prospectus requirement
- Statutory obligation to publish a BaFin-approved sales prospectus for a public offering of investment products. It applies as soon as an offer is advertised publicly.
- Real asset
- An asset with intrinsic use or substance value – such as real estate, wind turbines or physical precious metals – as opposed to monetary assets like deposits or bonds, whose value depends on a promise to pay.
- Referrer (Tippgeber)
- A person or company that merely establishes contact between an interested party and a provider, without advising, recommending or brokering the transaction. Global Wealth Protection acts solely in this role.
- Repowering
- Replacing older wind turbines with modern, more powerful units at the same site. Usually fewer but significantly taller and more productive turbines; permits must be obtained anew.
- Transaction costs
- Costs incurred on a property purchase in addition to the price: transfer tax, notary and land registry, possibly agent fees. In Germany usually 8–15% of the price; abroad it varies widely by country.