GLS-Bank and ABO Wind are to issue a corporate bond to finance the construction of large-scale wind and solar farms.
GLS Bank customers can exclusively subscribe to a subordinated corporate bond from ABO Wind from next week.
The bond has a term of nine years with attractive interest rates, according to the bank.
ABO Wind is working on the development and construction of around 5,000 new wind energy and photovoltaic plants as well as storage projects in 16 countries worldwide.
These include very large projects with a capacity of 100MW or more.
For these large projects, the financing of the construction phase can be a challenge, especially when several large projects are realised simultaneously.
To prepare for this, ABO Wind had already increased its equity last year.
The issuing of the bond fits into this strategy; it will have a volume of up to €30m euros and can be increased.
GLS board member Christina Opitz said: “GLS Bank and ABO Wind have been collaborating successfully for about 20 years in pushing the energy transition and mitigating global warming.
“By distributing the corporate bond, we contribute to a further expansion of renewable energies.
“The goal is to build many more wind and solar farms as quickly as possible in Germany and internationally, to generate climate-friendly electricity.”
ABO Wind’s managing director Dr Jochen Ahn added: “We are honoured that the GLS Bank will offer our bond to its customers, as we are aware of the bank’s high ethical, ecological and commercial standards.
“By placing this bond, we can finance and accelerate the implementation of wind and solar farms, and we continue the long-standing and successful cooperation between our companies.”