UPDATE 1-Infinis says bid for Novera still 'compelling'

* Says does not expect Novera to deliver on its targets * Novera shares down 0.4 percent (Adds details)

Oct 27 (Reuters) - British renewable energy company Infinis Energy said on Tuesday its offer for peer Novera Energy Ltd NOEN.L still represented a "compelling opportunity" for shareholders to realise value.

Infinis' statement comes a day after Novera's circular in which it reiterated its stand against the bid.

Novera continued to fend off the offer from private equity-backed shareholder Infinis, saying it was "wholly inadequate" and strongly urged shareholders to reject the "cheap and opportunistic" offer.

Terra Firma-backed Infinis said it expected Novera to fail to deliver on its target of submitting wind sites for planning totalling about 300 megawatt by the end of 2009 and bringing 250 megawatt into operation by the end of 2011.

Infinis, which had made a 62.5 pence per share cash offer for Novera shares in October, also said: "It is disappointing that the board of Novera continues to try to divert its shareholders' attention away from the relevant facts."

Infinis owns 42.6 percent of Novera -- which operates landfill gas sites, hydro power stations and wind farms -- and only needs valid acceptances totalling more than 7.4 percent of Novera's issued share capital for its bid to succeed.

Novera shares were down 0.4 percent at 67.75 pence at 1321 GMT on the London Stock Exchange. (Reporting by Tresa Sherin Morera in Bangalore; Editing by Himani Sarkar)