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17 July 2006 - Novera Energy the UK independent renewable energy generator has reached an agreement with Renewable Energy Development (RED) to acquire the majority of RED's wind farm portfolio.

This portfolio consists of six wind farm developments in the UK, with a potential capacity of approximately 120 MW. Five of the six sites are targeted to be in operation before 2010.

This brings the Novera development portfolio to 30 sites with a potential capacity of approximately 800 MW. In line with industry standards, Novera expect to convert 40 per cent of these prospects into delivered projects.

David Fitzsimmons, Chief Executive of Novera Energy said: "We are delighted to have strengthened our portfolio of wind sites and we continue to seek to increase operational capacity. We welcome David Taylor, the founder of RED, to the Novera team".

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