Novera to Sell Stake in Wind Farms

15 November 2009 (Last Updated November 15th, 2009 18:30)

British renewable energy company Novera Energy said it plans to sell a minority stake in one of its operating wind farms and is currently reviewing interest from bidders. The entire process is likely to be complete early next year, the company said in a statement. Novera said

British renewable energy company Novera Energy said it plans to sell a minority stake in one of its operating wind farms and is currently reviewing interest from bidders.

The entire process is likely to be complete early next year, the company said in a statement.

Novera said it intends to sell a stake in its existing projects to raise cash for investment in new wind farm projects.

It currently owns two operational wind farms: Lisset in Yorkshire and Myndd Clogau in Wales, apart from 46 landfill gas sites.

Novera said that it has rejected Infinis Energy's £90.5m (US$150.4m) takeover bid as the proposal considerably undervalues the company and its prospects.