Etrion Announces Strategic Partnership in Japan

| Source: Etrion Corporation
January 7, 2014, Geneva, Switzerland - Etrion Corporation (“Etrion”) (TSX: ETX /
OMX: ETX), a solar independent power producer, today announced a strategic
partnership with Hitachi High-Technologies Corporation (“HHT”) (TOKYO: 8036), a
subsidiary of Hitachi, Ltd., for the development, financing, construction,
ownership and operation of utility-scale solar power plants in Japan.
Japan is one of the largest solar photovoltaic (“PV”) markets in the world today
with over 15 gigawatts (“GW”) of installed capacity.  It is a relatively low
-risk jurisdiction with an attractive solar feed-in tariff (“FiT”) program and
low financing costs.  The Japanese government has instituted a strong mandate to
increase the use of renewable energy in Japan’s energy mix in order to reduce
the country’s dependence on nuclear power.  The government plans to increase the
share of renewable energy as a percentage of total power supply from 10% in 2011
to 25-35% by 2030.  Japan has a national solar power target of 28 GW by 2020.
In order to encourage solar power generation, Japan has implemented an
attractive 20-year FiT program of ¥40 per kWh (US$0.38 per kWh) for projects
secured by March 31, 2013, and ¥36 per kWh (US$0.34 per kWh) for projects
secured the following year.  The government has also announced various other
policy actions, including regulatory easing, tax incentives and energy sector

Etrion and HHT have signed a development agreement and have been working closely
together for more than one year to form a joint development team.  The
partnership is developing a pipeline that is expected to reach at least 100
megawatts-peak (“MWp”) of solar power generation facilities under construction
or shovel-ready in Japan by 2015.  Both parties have been providing the key
functions required to successfully execute projects, such as local content,
relationships with utilities and banks, engineering, procurement and
construction, non-recourse project finance as well as operations, maintenance
and asset management services.  Etrion and HHT plan to start construction of the
first solar power plant in 2014.

Marco A. Northland, Etrion’s Chief Executive Officer, commented: “We are
extending the range of our partners to position Etrion as a global platform for
growth.  Etrion is honored to partner with Hitachi Hi-Tech and sees this as a
key relationship for success in Japan and other Asian markets.  We are very
pleased with our progress to date, and we expect to announce our first projects

About Hitachi High-Technologies

Hitachi High-Technologies Corporation, headquartered in Tokyo, Japan, is engaged
in activities in a broad range of fields, including Electronic Device Systems,
Fine Technology Systems, Science & Medical Systems, Industrial & IT Systems, and
Advanced Industrial Products.  The company’s consolidated sales for FY 2012 were
more than $6.1 billion.  For further information, visit

About Etrion

Etrion Corporation is an independent power producer (“IPP”) that builds, owns
and operates utility-scale solar power generation plants.  Etrion owns 17 solar
power plants in Italy with approximately 60 MW of installed capacity.  The
Italian operations generate more than US$40 million of annual earnings before
interest, taxes, depreciation and amortization (“EBITDA”).  Etrion is also
developing greenfield solar power projects in Chile and Japan.  Etrion is listed
on the Toronto Stock Exchange in Canada and the NASDAQ OMX Stockholm exchange in
Sweden under ticker symbol “ETX”.  Etrion’s largest shareholder is the Lundin
family, which owns approximately 25% of Etrion’s shares directly and through
various trusts.  Additional information is available at:

For more information, please contact:

Pamela Chouamier – Investor Relations, Etrion Corporation

Telephone: +41 (22) 715 20 90

Email: (

Note: A megawatt-peak (MWp) = 1 million peak watts. A peak watt, the unit used
to rate the performance of photovoltaic collectors, will deliver 1 watt of
electricity under standard conditions of 1,000 watts of light intensity per
square meter and an ambient temperature of 25°C.

Forward-Looking Information:

This press release contains certain “forward-looking information” within the
meaning of applicable Canadian securities laws.  All statements, other than
statements of historical fact, that address activities, events or developments
that Etrion Corporation (the “Company”) believes, expects or anticipates will or
may occur in the future (including, without limitation, statements relating to
the plans of the Japanese government to increase power supply from renewable
sources and the timing and scope of the new solar projects anticipated to be
developed by the Company and HHT) 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, the ability of the Company to
acquire and develop additional renewable energy projects and obtain project
financing on economic terms.  Reliance should not be placed on forward-looking
information.  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 risk that the Japanese government may alter its stated
goals for the growth of renewable energy production, the risk that the Company
may not be able to identify and/or acquire renewable energy projects in the time
frame expected, uncertainties with respect to the receipt or timing of all
applicable permits for the development of such projects and the risk that the
Company may not be able to obtain project financing on economic terms.

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.