Most of the sites have already secured binding land option agreements, making them a valuable development portfolio for the company, and the joint venture's initial development portfolio has the potential to deliver more than 200 megawatts (MW) of new wind power capacity over the next three to four years according to Novera chairman Don Stammer.

"The initial portfolio is comprised of nine sites offering potential for small and medium scale wind projects of up to 40MW each," Stammer said.

"At the successful completion of each project, the site may be offered for sale to Novera Macquarie Renewable Energy (NMRE), the 50/50 joint venture established by Novera Energy and Macquarie Bank in December 2004. Securing the sites enhances Novera's growing project development portfolio, creating a sizeable pipeline of wind projects in the UK."

Novera also has interests in landfill gas power generators and biomass energy in Britain.

Stammer said the deal with RED and the recent successful completion of the 14.5 MW Mynydd Clogau wind farm in Wales have enhanced Novera's wind development capabilities and growth potential.

"Novera completed development of that project jointly with Renewable Energy Systems and sold the project to NMRE in December 2004, with construction commencing on 10 January 2005," he said.

"Mynydd Clogau is expected be commissioned in April 2006."

Shares in Novera jumped 3.5 cents or 12.5% to close at 31.5 cents on Thursday.