Power Production Begins at 30-MW Lissett Airfield Wind Farm

The remaining turbines will be brought into production over the next few weeks. When fully operational, Lissett is expected to produce approximately 74.5 gigawatt-hours (GWh) per year. The project, Novera’s largest single development to date, is on track to be delivered within the budget of £38.5 million [US $55.6 million]. This has been funded with a £29.5 million [US $42.6 million] non-recourse project finance facility from Fortis Bank with the Company having already funded its equity contribution.

A long term Power Purchase Agreement (PPA) was signed with SSE in November 2007. Under this arrangement SSE will take all of the electricity, Renewables Obligation Certificates and Levy Exemption Certificates generated by the wind farm at market-related prices.

“We are delighted with this exceptional achievement of first production and sales from Lissett just over two and a half years after our initial planning application was submitted. This is a significant milestone for the business and a testament of our ability to deliver through our experience and capabilities in development, financing, construction and operations,” said David Fitzsimmons, CEO of Novera.