Novera Wind Energy

Novera Lands Financing For Wind Project

Written by Brian Hicks
Posted October 23, 2009

Novera Energy (LON:NVE)announced today that Lloyds and BNP Paribas will pony up a 15-year project debt facility for up to $59.5 million so Novera can begin construction of the Glenkerie wind farm in Scotland.

When completed, the wind farm will boast 11 wind turbines with a capacity of up to 27 megawatts - or enough to power roughly 15,000 homes. The wind farm is expected to become operational in 2011.

And MEMC Electronic Materials (NYSE:WFR) announced yesterday that it will be acquiring SunEdison for $200 million.

SunEdison develops, finances and operates solar plants all over the world. It's actually the largest solar energy services provider in North America with more than 72 megawatts of photovoltaic solar power plants currently under management. The company also has more than 6 megawatts in Europe.

Under the terms of the agreement, security holders of SunEdison will be paid 70 percent in cash and 30 percent in MEMC stock.

jeff signature