The remaining 5.1% will be taken over by another investor. Thus Capital Stage is officially taking part in the tender process for the takeover of PROKON.
A decision regarding the investor tender will be taken by the creditors committee until mid of May. The assembly of PROKON’s creditors will then decide beginning of July whether the selected investor tender will be accepted or the alternative solution (Genossenschaftsmodell), which has been prepared by the insolvency administrator, will be favoured.
Capital Stage believes that the potential takeover of PROKON will be a logical addition to its business model. PROKON operates a portfolio of wind farms with a total capacity of 529 MW and fixed feed-in tariffs. 461 MW, thus by far the biggest portion of these wind farms, is located in Germany.
In addition, PROKON operates a dedicated O&M department for the technical and commercial management of these wind farms. PROKON thus has a positioning in the wind sector which is similar to Capital Stage AG’s positioning in the solar sector.