£1.25million Sale of East London Sustainable Energy Facility (‘ELSEF’) Novera is pleased to announce the sale of its ELSEF project to Biossence for a total of £1.25 million which will be paid in stages up to financial close of the project. Novera’s net third party costs to date on this project are approximately £300,000.
David Fitzsimmons, Novera’s CEO, commented: “Novera’s growth strategy is currently focused on onshore wind. While we continue to view ELSEF as an exciting project, it will be best taken forward to completion by a company such as Biossence, which is focused on waste to energy developments.”
Dr Ralf Trottnow, Director Biossence stated: “Biossence is delighted to acquire ELSEF and is committed to bringing it quickly to financial close. We see this as an important source of renewable energy in East London and integral part of our strategy to build, own and operate renewable energy plants in the UK based on advanced thermal conversion technology.”
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