Etrion Closes Additional Project Financing with Natixis, WestLB and Mediocreval

Etrion Closes Additional Project Financing with Natixis, WestLB and
Mediocreval

August 8, 2011, Geneva, Switzerland - Etrion Corporation (“Etrion” or
the “Company”) (TSX: ETX) (OMX: ETX), an independent solar power
producer, has closed an additional tranche of project financing to
include the 2.6 MW Nettuno project within the previously announced
facility from Natixis, WestLB and Mediocreval.

The non-recourse senior loan facility is for approximately 60 million
euros and includes a total of 17.8 MW in operation or under construction
in Italy. The loan will cover up to 84 percent of estimated project
costs with a maturity of 18 years following construction.

Marco Northland, Etrion's CEO, commented, “This financing demonstrates
the continued availability of long-term, non-recourse loans for solar
power projects in Italy. The latest tranche will allow us to pre-pay the
28 million euro bridge loan from the Lundin family when we complete our
13 MW under construction in the third quarter. Etrion now has a
fully-funded solar portfolio of 60 MW.”

The first project in the financing portfolio, Etrion Lazio, includes the
Borgo Piave 3.5 MW park and the Rio Martino 1.7 MW park, both completed
in December 2010.

The second project in the portfolio, Helios ITA-3, includes two 5 MW
parks located in Puglia. The parks are now under construction with ABB
and are expected to be completed in the third quarter.

The final project in the portfolio, Nettuno, is a 2.6 MW park under
construction in Lazio with Phoenix Solar. Nettuno is also expected to be
completed in the third quarter.

The five ground-based solar PV plants are expected to produce a total of
approximately 28 million kilowatt hours (kWh) of electricity per year
and almost 9 million euros per year of earnings before interest, taxes,
depreciation and amortization (EBITDA).

The solar parks benefit from the Italian feed-in-tariff (FiT) regime,
which is a premium purchase price for solar electricity that is
guaranteed by the Italian government for 20 years from the start of
operations.

About Etrion
Etrion Corporation acquires, develops, builds, owns and operates solar
power plants. Etrion currently owns 47.2 megawatts (MW) of operational,
ground-based solar photovoltaic (PV) power plants and has 12.6 MW under
construction in Italy. The Company is listed on the Toronto Stock
Exchange and the NASDAQ OMX Stockholm exchange (ticker symbol “ETX”).
Etrion's largest shareholder is the Lundin family, which owns
approximately 25% of the Company's shares through various trusts.

For additional information, please visit the Company's website at
www.etrion.com (http://www.etrion.com/) or contact:

Garrett Soden - Chief Financial Officer
Telephone: +41 (22) 715 20 90

Forward-Looking Information:
This press release contains certain “forward-looking information”. All
statements, other than statements of historical fact, that address
activities, events or developments that the Company believes, expects or
anticipates will or may occur in the future (including, without
limitation, statements relating to the anticipated completion of the
construction of the mentioned solar parks and the expected production of
electricity and earnings resulting therefrom) constitute forward-looking
information. This forward-looking information reflects the current
expectations or beliefs of the Company based on information currently
available to the Company as well as certain assumptions, including,
without limitation, assumptions as to the price at which the Company
will be able to sell electricity from the projects and the applicable
FiT to be received by the Company upon such sales and the Company's
ability to realize EBITDA margins for the projects that are equivalent
to the average margins for similar projects. Forward-looking information
is subject to a number of significant risks and uncertainties and other
factors that may cause the actual results of the Company to differ
materially from those discussed in the forward-looking information, and
even if such actual results are realized or substantially realized,
there can be no assurance that they will have the expected consequences
to, or effects on the Company. Factors that could cause actual results
or events to differ materially from current expectations include, but
are not limited to, the possibility of project cost overruns or
unanticipated costs and expenses or delays in construction and a
material reduction in the anticipated FiT and/or spot market price to be
received by the Company for electricity sales.

Any forward-looking information speaks only as of the date on which it
is made and, except as may be required by applicable securities laws,
the Company disclaims any intent or obligation to update any
forward-looking information, whether as a result of new information,
future events or results or otherwise. Although the Company believes
that the assumptions inherent in the forward-looking information are
reasonable, forward-looking information is not a guarantee of future
performance and accordingly undue reliance should not be put on such
information due to the inherent uncertainty therein.