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Novera Energy PLC (NVE)

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Thursday 24 January, 2008

Novera Energy PLC

Trading Statement

Novera Energy PLC
24 January 2008

                                                                 24 January 2008

                 NOVERA ENERGY PLC ('Novera' or 'the Company')

                                Trading Statement

The Board of Novera, one of the leading quoted UK renewable energy companies, is
pleased to make the following trading update in advance of its preliminary
results for the year ended 31 December 2007 which will be released by the
Company on 18 March 2008.

Novera expects to announce that revenue for the twelve months ended 31 December
2007 was £34.4 million (unaudited) compared to £31.4 million in 2006, an
increase of 10 per cent.* Trading and operational performance before development
spend has been broadly in line with Company expectations.

                  YE 31 December 2007     YE 31 December 2006         Movement %

Generation*              564GWh                  547GWh                   3%
Revenue*                 £34.4m                  £31.4m                  10%

Novera reached financial close on Lissett, its 30MW wind farm in Yorkshire, in
November 2007. Construction is now underway and first production is expected in
December 2008. A further four wind farm proposals totalling 78-91MW are now in
planning: Mountboy, Fleeter Wood, Glenkerie and A'Chruach. In achieving these
milestones, the Company has been able to reduce 2007 development expenditure
below its previous expectation, while remaining on track to deliver the 250MW

At 31 December 2007 the company's cash balance was £10.8 million (unaudited) of
which £6.5 million was in restricted cash bank accounts.

Commenting on the year, David Fitzsimmons, Chief Executive Officer, stated:

"I am very pleased with the progress the Company has made since the acquisition
of the remaining 50 per cent. of the Company's operations from Macquarie
International Infrastructure Fund at the beginning of 2007. Operational
performance was in line with Company expectations.  The wind sites we have in
planning, together with a further 320MW in the pre-planning phase, position us
well to deliver at least our 250MW target for wind capacity by 2011.  In
addition, following the UK Government's confirmation of the increased support
for renewable power from biomass gasification, we are making good progress with
the ELSEF development in East London."

* On a pro-forma, illustrative basis, with the results of Novera and Novera
  Macquarie Renewable Energy ('NMRE') fully consolidated from 1 January 2006,
  excluding discontinued activities.

For further information:

Novera Energy plc
David Fitzsimmons, Chief Executive
Rory Quinlan, Chief Financial Officer
Tel: +44 (0) 20 7845 9720

Gavin Anderson (PR)
Ken Cronin / Kate Hill / Michael Turner
Tel: +44 (0) 20 7554 1400

Oriel Securities Limited (Nominated Advisor)
Adrian McMillan / Michael Shaw
Tel: +44 (0) 20 7710 7600


Notes to Editors:

Novera is a leading independent UK renewable energy group, with a portfolio of
landfill gas, waste and wind assets and projects.  The Company has 122MW of
renewable power generation at 58 sites across the UK and is developing a
portfolio of wind farms with a target capacity of 250MW by 2011.

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

a d v e r t i s e m e n t