The first lasing in the mid IR at the ELBE FEL allows us to specify the parameters of a new undulator for longer wavelengths to complement the U27 undulator which is useful up to about 25 microns. In the longer wavelength region FELs constitute a unique radiation source with appealing properties. Radiation quanta in this range (2 - 10 THz) are appropriate for the low-energy spectroscopy of various interesting modes in solid state quantum structures as well as in complex biological systems. Their study establishes the basis for understanding phenomena in semiconductors and elucidating biological processes of interest for medical innovations. We envisage an electromagnetic undulator with a period of 90 - 100 mm. Using the ELBE beam IR light from 20 to 150 microns and beyond can be produced. To keep the transverse beam extension small the IR beam is to be guided by a partial waveguide inside the undulator. Appropriate bifocal resonator mirrors minimize the mode coupling losses at the exits of the waveguide. Detailed calculations and computer simulations predict an outcoupled laser power of roughly 50 W at 150 microns which will be transported to experimental stations.