Novera Energy, a company engaged in waste gas and wind power has just chosen to change domicile from Australia to the UK. This is pretty much the final stage in it's anglo-isation, if you'll forgive the phrase. Since listing on AIM in 2005, the company's focus has become more and more UKcentric.

Four-fifths of sales still come from landfill operations and according to this detailed article, profits are still 2 years away.

What is also potentially troublesome is that the author of the article believes the stock price of Novera is driven by the hopes of more UK windfarms coming onstream. You have to wonder if that is not too optimistic. No UK government has ever supported windpower so much as the current one under Tony Blair. And yet they were unable to force through windfarm developments through the planning system at anything like the rate they anticipated. A new government in the next few years will not be as favourable. And it seems at least possible that the likes of Novera - a minnow - will always be outbid on rights to a potential windfarm site by a bigger player.

Meanwhile, the future of building profitable onshore wind farms should really be in Central and Eastern Europe, rather than Western Europe. That was so yesterday's investment story. In Germany today, most of the good wind sites are now taken and the UK - more for planning reasons - is not a great future market either.