Shares digital

Takeover talk has sparked green energy generator Novera Energy (NVE:AIM) to life after being approached by 3i Infrastructure over a possible 90p-a-share cash offer. The shares shot up 11% to 87.5p on Monday following confirmation of the suitor.

Novera had previously been seen as a target for utility companies, given that the industry is concentrating on bolstering renewable power generation sources in a bid to meet government targets.

Novera’s most recent trading update, in January, stated that its full-year output last year was 564 GigaWatt hours, bringing in £34.4 million in revenues. More capacity will be added this year, with construction of its 30MW wind farm in Lisset under way, and a further four wind farms in planning, which could add 78MW-91MW to its portfolio. It is also developing a a 10MW biomass plant in East London to convert waste into energy.

Shares says: The shares have hardly caught the imagination so far but a 90p bid would be above their all-time high, while a takeover battle could even emerge.