Melbourne, Apr 21, 2008 (ABN Newswire) - Viridis Clean Energy Group ("Viridis") (ASX: VIR) today entered into an Exclusivity Deed with the newly established Lighthouse Viridis Clean Energy Development Fund ("Development Fund") under which Viridis may acquire interests in clean energy projects from the Development Fund once they are sufficiently advanced to meet the Viridis investment criteria.

The Development Fund is being established to invest in development projects utilising clean energy fuels and technologies including wind, hydro, biomass, geothermal, solar, waste fuel, coal seam methane and natural gas. It is an unlisted fund available to wholesale investors and is managed by Lighthouse Clean Energy Management Pty Limited ("Lighthouse") and Viridis Energy Capital Pty Limited ("VEC").

Under the terms of the Exclusivity Deed, Viridis has an exclusive right to acquire 50% of the Development Fund's ownership interests in each clean energy project developed by the Development Fund. Viridis is under no obligation to acquire any projects from the Development Fund and will decide whether to invest on a case-by-case basis applying its usual investment selection process. The purchase right can be exercised within a defined period leading up to and immediately following the successful commissioning of a project. The acquisition price will be confirmed by an independent expert as a fair price.

Chief Executive Officer of VEC, Mr Edward Northam commented, "The establishment of the Lighthouse Viridis Clean Energy Development Fund is an exciting new growth initiative developed in response to growing sector demand for "experienced" development capital. The launch of the fund ensures that we will be able to access attractive project investment opportunities across the entire project lifecycle. The Exclusivity Deed with the Development Fund has the potential to significantly strengthen Viridis' acquisition pipeline by securing early stage access to well-managed project investment opportunities on a basis consistent with Viridis' stringent investment criteria. Viridis and the Development Fund may also seek to co-invest in future opportunities, where appropriate."

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