ferret's stock to watch: viridis clean energy

Ferret's Stock to Watch: VIRIDIS CLEAN ENERGY GROUP
09:11, Tuesday, 4 April 2006

A COMPANY CAPITALISING ON GLOBAL CLEAN ENERGY PROJECTS

Sydney - Tuesday - April 4: (RWE Aust Business News)
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OVERVIEW
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Viridis Clean Energy Group (VIR) targets investment in clean
energy assets that are fully developed and use commercially proven
technology and equipment.

The energy and environmental credits generated by the assets
are predominantly sold under contract or legislated open access off-take
arrangements.

"Given the world-wide investment opportunities in the clean
energy infrastructure sector and the experience and industry knowledge
of the management team, we are confident that Viridis can further
grow and diversify its investment portfolio." says CEO Edward Northam.

Investec Bank (Australia) Ltd has been the promoter of the
recently listed Viridis, which has interests in wind farms in the UK
and Germany, landfill gas-fuelled energy generation projects in the US
and hydroelectric and process gas generation projects in Italy.

Viridis Energy Capital Pty Ltd has announced that the Viridis
Clean Energy Group will pay an interim distribution of 2.5c per stapled
security.

The interim distribution is Viridis's first distribution since
listing on the Australian Stock Exchange on September 14, 2005.

Viridis also confirmed that it is on track to achieve its PDS
forecast cash equivalent distribution for the period from listing to
June 30, which is expected to be no less than 7.13c per stapled security.

This represents an annualised 9.5 per cent yield on the $1 issue
price.

The full distribution is expected to be 40 per cent tax deferred,
although this can only be confirmed at the end of the June 30 tax year.

Viridis Clean Energy Group is an energy infrastructure fund
which invests in a diversified global portfolio of clean energy assets
with the objective of delivering attractive cash equivalent distributions
to investors with prospects for long-term growth.

The fund invests in operating assets utilising commercially
proven technologies.

The principal investment focus is on assets that generate
electricity or other consumable energy produced from renewable, waste or
inherently low-emission energy sources, including wind, hydro, biomass,
geothermal, solar, waste fuel, coal seam methane and natural gas.

SHARE PRICE MOVEMENTS
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The stapled units of Viridis Clean Energy yesterday rose 0.5c to
99c. Rolling high for the year has been $1.15 and low 97c. Dividend is
2.5c to yield 2.53 per cent. The company has 126 million fully paid
stapled securities with a market cap of $124.1 million.

Interim distribution was made last Friday.

Viridis also announced interim results for the six-month period
ended December 31.

The group achieved earnings before interest, tax, depreciation
and amortisation (EBITDA) for the half year of $4 million, with a net
loss after tax of $1.2 million.

Underlying EBITDA (excluding mark to market derivative and
foreign exchange losses (non-cash items)) was $4.2 million.

The net loss position includes income tax expense of $700,000
which predominantly relates to an unrealised foreign currency gain and
timing differences.

"The result is consistent with management's expectations for
the period," said Mr Northam.

"VCEG's asset portfolio delivered strong operating cash flows
notwithstanding the delays in completing the remaining two projects in
the Lower Saxony wind portfolio and below average wind yields on the
German projects.

"This further highlights the benefit of VCEG's strategy to
invest in a diversified asset portfolio.

"We anticipate a solid result in the second half with
contributions to earnings from the two remaining Lower Saxony wind
projects, scheduled for completion by 1 April 2006 and the 38MW Merinda
wind farm portfolio, which was acquired on 12 January 2006," Mr Northam
disclosed.

BACKGROUND
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Viridis Clean Energy Group is an energy infrastructure fund that
has been established by Viridis as a special purpose investment vehicle
focused exclusively on direct, long-term investment in a global portfolio
of clean energy projects.

VCEG invests in projects employing proven renewable, waste and
other clean energy fuels and technologies in selected geographical
markets, with a primary focus on Europe, North America and Australia.

VCEG's current investment portfolio includes ownership interests
in 15 projects located in the USA, UK and Germany with a total capacity
of 137MW (VCEG share 121MW).

The fund also holds subordinated debt interests in Elettra
Holdings, LP which owns a portfolio of generation assets in Italy.

Viridis Energy Capital Pty Ltd is the investment manager and
responsible entity for the Viridis Clean Energy Group.

Viridis Clean Energy Group comprises Viridis Clean Energy
Trust I and Viridis Clean Energy Trust II.

ENDS