GLS Bank to buy majority of 48-MW wind park in Germany

German lender GLS Bank has agreed to acquire an 80.1% stake in the 48-MW Gagel wind park in Saxony-Anhalt from energy cooperative Prokon Regenerative Energien eG, the latter announced on Tuesday.

The bank is currently developing an offering for citizens, members and customers that seek to participate in the plant. The investment model is to be made available in the third quarter of the year.

Prokon will keep the remaining interest and will continue to serve as the technical operator of the wind park, which consists of 16 turbines of the E-115 model manufactured by Enercon.

At present, Prokon operates 58 wind farms in Germany and Poland, with a combined capacity of 605 MW. The Gagel plant is the largest asset in its portfolio and has the capacity to generate enough power to supply up to 40,000 homes. The second largest asset is the 36.8-MW Bornstedt-Rottmersleben wind farm located in the same state.

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