Novera is looking to purchase up to 56 MW of wind power assets from Germania Windpark GmbH. These include 9 MW of turbines in operation on the outskirts of Berlin and four sites under construction across Germany, due to be operational within the next eight months and producing a total of 47 MW of power.

The asset purchase will complete when the projects are operational, the first due in a matter of weeks. All sites feature reliable General Electric (GE) turbines that have long term maintenance and operation agreements signed with GE, and all environmental planning permits are granted and in force, Novera said.

Each project is to be financed on a non-recourse, project finance basis and average revenues per MW installed exceed $275,000 per annum, with a potential portfolio revenue of over $15.4 million per year. The sites come under a 20 year fixed price renewable energy sales contract enforced by government legislation.

Upon completion of project evaluation, Novera intends to offer each investment in the portfolio to the renewable energy joint venture it has with the Macquarie Bank, Novera Macquarie Renewable Energy.