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Novera Energy Ltd (NVE)

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Wednesday 24 May, 2006

Novera Energy Ltd

AGM Statement

Novera Energy Ltd
24 May 2006

                                                                     24 May 2006

                             Novera Energy Limited

                          ('novera' or 'the Company')

                                 AGM STATEMENT

At the Novera Annual General Meeting to be held today, John Brown, Chairman,
will make the following statement:

'In 2006 we have continued to focus on renewable energy generation in the UK
using a portfolio of three technologies: landfill gas, wind and advanced energy
from waste. Each of these technologies offers Novera the opportunity for growth
through a combination of organic development and acquisition.

Novera Macquarie Renewable Energy Joint Venture ('NMRE'), our 50:50 joint
venture, owns and operates mature, proven and low risk renewable energy
generating assets mainly from landfill gas, with some small hydro and wind
power.  NMRE is currently generating at 58 sites and by the end of 2006, we
expect it to have a total capacity of 136MW.   Earlier this month NMRE agreed a
cash distribution for the second half of 2005 which was in line with
expectations.  We expect to receive our  £0.5 million share of this distribution
in cash by 30 June. The first half 2006 distribution is expected to be received
in the second half of this year. In accordance with our strategy of focussing on
UK renewable energy, NMRE recently sold its interests in German wind farms (9MW)
for £2.3 million, recognising a gain on sale of approximately £0.2 million.
NMRE's UK wind farm, Mynydd Clogau, (14.5MW) is now fully commissioned after
generating its first revenue ahead of schedule in January 2006.

We have made continued progress in building our wind development portfolio. We
remain on target to have a 24MW wind farm into planning in mid 2006. The
proposed site is the Lissett Airfield wind farm in Yorkshire. In addition,
further progress has been made on our portfolio of 30 pre-planning wind farm
development sites, which we hope will yield 200-250MW capacity.

Earlier this month we submitted a planning application for our 10MW East London
Sustainable Energy Facility ('ELSEF') to the London Thames Gateway Development
Corporation ('LTGDC') to build an advanced gasification and power plant. A
planning decision is expected in September 2006. We are also targeting other
Local Authorities with a view to developing similar plants for them.

Novera is now headquartered in London and with executive management of the
Company now fully UK based and supported by a strengthened and experienced
Board.  Following the successful delisting from the ASX on 4th April 2006,
Novera has traded solely on AIM. I would like to take this opportunity to thank
all our shareholders for their continuing support during this transitional

The prevailing Government policy is positive towards creating real demand in UK
renewable energy generation and with our substantial generating asset base and
development opportunities, we remain confident of delivering growth and
shareholder value. We have made a good start to the year and expect to make
further progress in the year ahead.'


For further information:
Novera Energy Limited              Hudson Sandler                    Westbrook Communications

David Fitzsimmons, CEO             Nick Lyon / James Benjamin        David Reid

Rory Quinlan, CFO                  Tel: +44 20 7796 4133             Tel: +61 2 9231 0922

Tel:  +44 20 7845 9720

                      This information is provided by RNS
            The company news service from the London Stock Exchange