"The sale of the 14.5 MW Mynydd Clogau project marks an important milestone for Novera Energy as a green field wind power developer in Europe, with construction of the project now underway," the company said in a statement.

Novera Energy and RES achieved planning consent for Mynydd Clogau in May 2002. Novera Energy has completed development, negotiated the turn-key construction contract and completed debt arrangements for the project.

Construction by RES began on 10 January 2005 and commissioning of the site is expected in April next year.

NMRE has acquired 100% of the Mynydd Clogau project and will construct, own and operate the wind farm under a fixed price, turn-key contract with RES. The project will use seventeen 850kw Vestas turbines. It has a total enterprise value of about A$39m (GBP 14 million).

Novera Macquarie Renewable Energy Limited is a 50:50 joint venture company established by Novera Energy Limited and Macquarie Bank Limited in December last year. Already managing one of Britain's largest diversified renewable energy portfolios , the joint venture’s purpose is to acquire and operate renewable energy assets, initially in the UK.

NMRE has an initial portfolio of 128MW. Of this, 107MW is currently operational, consisting of 79MW of landfill gas generation at 40 sites across the UK, 16.2MW of small-scale hydro generators at 10 sites and 12MW of coal-bed methane at another site.

"NMRE expects the additional 21MW of generating capacity to be added to the portfolio from the completion of Mynydd Clogau and an expansion of 7MW on existing and new landfill gassites," the company said.

"All of NMRE’s electricity output is sold under long-term contracts."