ETRION AND HITACHI HIGH-TECH ANNOUNCE CLOSING OF PROJECT FINANCING TO BUILD 34 MW OF UTILITY-SCALE SOLAR PROJECTS IN JAPAN

ETRION AND HITACHI HIGH-TECH TO BUILD, OWN AND OPERATE 34 MW OF UTILITY-SCALE
SOLAR PROJECTS IN JAPAN WITH FINANCING ARRANGED BY SUMITOMO MITSUI TRUST BANK
September 2, 2014, Geneva, Switzerland and Tokyo, Japan – Etrion Corporation
(“Etrion”) (TSX: ETX / OMX: ETX) and Hitachi High-Technologies Corporation
(“Hitachi High-Tech”) (TSE: 8036), a subsidiary of Hitachi, Ltd. (“Hitachi”)
today announced the planned construction of 34 megawatts (“MW”) in Japan with
financing arranged by Sumitomo Mitsui Trust Bank, Limited (“SuMi Trust”).

Marco A. Northland, Etrion’s Chief Executive Officer, commented: “I am honoured
to be working alongside Hitachi High-Tech and SuMi Trust in Japan. Japan is one
of the largest solar photovoltaic (“PV”) markets in the world and having strong
local partners has been instrumental in enabling us to succeed in this exciting
market. Etrion is one of the first foreign Independent Power Producers (“IPPs”)
to secure financing to build utility-scale solar plants in Japan and we are now
well positioned to replicate this model with Hitachi High-Tech to accelerate our
growth plans. These projects expand Etrion’s geographic footprint providing a
clear diversified platform for growth bringing Etrion closer to its objective of
being in a position to declare dividends in the future.”

Hidenori Nagao, Hitachi High-Tech‘s Vice President and Executive Officer and
General Manager of Global Trading Group, commented: “It is our great honour to
launch business in Japan’s emerging solar market with Etrion, who has a proven
track record in the solar industry. These projects will be built with our proven
technical capabilities in engineering, procurement and construction (“EPC”)
using Hitachi’s highly efficient and reliable solar PV power generation systems.
Hitachi High-Tech, together with Etrion, are targeting a total of 100 MW by 2015
and a total of 300 MW by 2017, including these first two projects.”

Kengo Noguchi, SuMi Trust’s Executive Officer and General Manager of the
Structured Finance Department, commented: “We are very proud to partner with
Etrion and Hitachi High-Tech in developing their first two solar projects in
Japan. SuMi Trust is committed to supporting the country’s shift to clean energy
and we look forward to assisting Etrion and Hitachi High-Tech as they execute
their growth plans, bringing more solar projects into the energy mix in Japan.”

Shizukuishi Solar Project (24.7 MW)

Shizukuishi is a 24.7 MW utility-scale solar PV power plant to be built in the
Iwate Prefecture of Japan. Construction-related works are expected to commence
in October 2014 and the solar project is expected to be operational by the end
of 2016. The solar power plant will be built on 51 hectares of leased land and
the facility will connect through the Tohoku Electric Power Co., Inc. utility
(“Tohoku Electric Power utility”). The project will enter into a power purchase
agreement (“PPA”) with the Tohoku Electric Power utility to receive ¥40 per
kilowatt-hour (“kWh”) produced (approximately US$0.39 per kWh).

Once operational, Shizukuishi is expected to produce approximately 25.6 gigawatt
-hours (“GWh”) of solar electricity per year.

Mito Solar Project (9.3 MW)

Mito is a 9.3 MW utility-scale solar PV power plant to be built in the Ibaraki
Prefecture of Japan. Construction is expected to commence in September 2014 and
the solar project is expected to be operational by the end of 2015. The solar
power plant will be built on 27 hectares of leased land and the facility will
connect through the Tokyo Electric Power Company utility. The project will enter
into a PPA with the Tokyo Electric Power Company utility to receive ¥40 per kWh
produced (approximately US$0.39 per kWh).

Once operational, Mito is expected to produce approximately 10.3 GWh of solar
electricity per year.

The total project cost for both projects will be financed approximately 80%
through project debt from SuMi Trust with an 18-year tenor. The remaining
approximate 20% equity portion will be funded by Etrion and Hitachi High-Tech
based on their respective ownership interests of approximately 87% and 13%.

These projects will be built by Hitachi High-Tech using the proven EPC
capabilities of Hitachi. Hitachi High-Tech will provide highly efficient PV
generation systems that incorporate Hitachi’s power conditioning systems
(maximum efficiency: 98.8% at the world’s highest standard / maximum direct
current voltage input: 1,000 volts) and their amorphous transformers which are
more efficient in practical load and can reduce standby power loss by 70%
compared with Hitachi’s conventional silicon-steel-cored transformers.
Operations and maintenance (“O&M”) services will be provided by Hitachi High
-Tech through a long-term fixed-price agreement for each project.

Japan is one of the largest solar PV markets in the world with over 14 gigawatts
(“GW”) of installed capacity with a national solar power target of 28 GW by
2020.

In 2012, Etrion and Hitachi High-Tech signed a development agreement to develop
a pipeline of solar assets in Japan. Under this agreement, both parties provide
the key functions necessary to successfully develop, build and operate solar
projects in Japan (including, but not limited to, obtaining the relevant permits
and authorizations to build and operate the solar power facilities, developing
relationships with local utilities and land owners, performing the EPC-related
services and providing O&M and asset management-related services). Shizukuishi
and Mito are the first solar projects to be built under this arrangement and the
companies are targeting to reach 100 MW by 2015 either under construction or
shovel-ready.

About Hitachi High-Tech

Hitachi High-Technologies Corporation, headquartered in Tokyo, Japan, is engaged
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 2013 were more than
US$6.2 billion. Additional information is available at: www.hitachi
-hitec.com/global

About Etrion

Etrion Corporation is an independent power producer 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 and has a 70 MW
solar project in Chile under construction that is expected to be operational by
the end of 2014. Etrion is also actively developing greenfield solar power
projects in Chile and Japan. The Company is listed on the Toronto Stock Exchange
in Canada and the NASDAQ OMX Stockholm exchange in Sweden under ticker symbol
“ETX”. Additional information is available at: www.etrion.com

For further information, please contact:

Hitachi High-Tech

Reiko Takeuchi, Aiko Matsumoto, CSR & Corporate Communications Dept., CSR Div.,
takeuchi-reiko@nst.hitachi-hitec.com, tel.: +81-3-3504-7760

Etrion

Pamela Chouamier, Investor Relations, pchouamier@etrion.com, tel.: +41 (22) 715
20 90.

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Etrion discloses the information provided herein pursuant to the Swedish
Securities Market Act. The information was submitted for publication at 4:00am
Central European Time (CET) on September 2, 2014.

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 Etrion and/or Hitachi High-Tech believe, expect or
anticipate will or may occur in the future (including, without limitation,
statements relating to their anticipated plans to build, operate and finance the
Shizukuishi and Mito solar projects, including, without limitation, the
anticipated construction and operation start dates, the terms and methods under
which the solar projects will be built and operate and the anticipated amount of
solar electricity power to be produced from the solar projects and statements
related to Etrion’s and Hitachi High-Tech’s targets for the construction and
development of additional projects, Etrion’s objective to declare dividends in
the future and Japan’s national target for solar power generation).This forward
-looking information reflects the current expectations or beliefs of Etrion
and/or Hitachi High-Tech, as the case may be, based on information currently
available to them as well as certain assumptions (including that all necessary
financing and regulatory or other approvals will be obtained and that current
and future solar projects will be developed and operated in a manner consistent
with the expectations of Etrion and Hitachi High-Tech). Forward-looking
information is subject to a number of significant risks and uncertainties and
other factors that may cause actual results 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, Etrion or Hitachi High-Tech.
Factors that could cause actual results or events to differ materially from
current expectations include, but are not limited to, the failure to obtain
necessary financing or approvals to complete construction of the solar projects
or to operate them as expected, unexpected delays in starting or completing the
construction of the solar projects and resulting delays in the start of
operations, the inability of Etrion and Hitachi High-Tech to identify and/or
acquire additional renewable energy projects on economic terms, the inability of
Etrion to generate sufficient earnings from its projects to support the payment
of dividends and possible reductions in Japan’s target for solar power
generation.

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, Etrion and Hitachi
High-Tech disclaim any intent or obligation to update any forward-looking
information, whether as a result of new information, future events or results or
otherwise. Although Etrion and Hitachi high-Tech believe 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.