The new funding arrangement provides Novera with bank facilities of around A$33.5 million and includes asset leasing, a term loan and an overdraft facility.
Formerly known as Primergy, Novera is the third-largest landfill gas-to-power company in Britain with 39 megawatts of renewable electricity generation. The 18 MWs generated from the expansion will be distributed across the U.K. as the company creates four new sites and increases capacity at five existing sites.
The company has long-term power purchase agreements with Powergen (EONG.DE) and TXU Australia, which it says offer gross revenue potential of more than A$1.25 billion.
Novera is also developing biomass gasification and wind power projects in the UK and Australia with joint venture partners.
Shares in the company, which listed on December 19 last year at A$0.38 and hit a low of A$0.20 in March, were up 9.4 percent at A$0.35 in afternoon trade on Thursday.
