Etrion Announces Completion of 70 MW Solar Park in Chile

November 4, 2014, Geneva, Switzerland - Etrion Corporation (“Etrion” or the
“Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, today
announced that it has completed construction of the 70-megawatt (“MW”) Salvador
project (“Project Salvador”) in the Atacama region of Chile. Project Salvador is
the world’s largest solar power plant based on spot market electricity
(“merchant”) revenues and is the second-largest solar park connected in Chile.

Marco A. Northland, Etrion’s Chief Executive Officer, commented: “The 70 MW
Salvador solar park was connected five months ahead of schedule and under budget
thanks to the hard work of our local team and contractors. This project almost
doubles Etrion’s installed net capacity and is expected to significantly
increase our annual cash flow. We look forward to advancing our 99 MW of
greenfield solar development pipeline in Chile next year.”

Project Salvador is owned initially 70% by Etrion, 20% by Total (CAC: TOTF.PA)
and 10% by a local developer. Total’s affiliate, SunPower Corp. (NASDAQ: SPWR),
was contracted for the engineering, procurement and construction of the solar
park using SunPower OasisTM Power Block technology. Construction-related
activities began in December 2013, and the solar park was connected to the grid
on November 3, 2014. Project Salvador has entered into a long-term, fixed-price
operation and maintenance agreement with SunPower. As part of this agreement,
the project’s solar panels will be cleaned six times per year by SunPower’s new
robotic system that expedites the cleaning process and achieves substantial
conservation of water, thereby reducing cost and improving overall solar power
production.

Project Salvador will initially operate on a merchant basis where the
electricity produced will be sold on the spot market and delivered to the
Sistema Interconectado Central (“SIC”) electricity network, with the ability to
secure future power purchase agreements (“PPAs”). The solar power plant was
built on 133 hectares leased from the Chilean government through a long-term
concession, and the facility was connected through the power infrastructure of
Corporación Nacional del Cobre de Chile (“Codelco”).

Project Salvador is expected to produce approximately 200 gigawatt-hours of
solar electricity per year, enough to supply electricity to approximately 80,000
households in Chile.

Chile has an investment grade rating and offers attractive investment
opportunities for leading financial institutions to provide non-recourse project
finance. Project Salvador was financed by the Overseas Private Investment
Corporation (“OPIC”), the U.S. government’s development finance institution,
with a US dollar-denominated, non-recourse project loan for approximately 70% of
the US$200 million total project cost. The remaining 30% equity portion was
funded by Etrion, Total and a local developer based on their initial respective
ownership interests.

About Etrion

Etrion Corporation is an independent power producer that develops, builds, owns
and operates utility-scale solar power generation plants. The Company owns 130
MW of installed solar capacity in Italy and Chile. Etrion has 34 MW of solar
projects under construction in Japan and is also actively developing greenfield
solar power projects in Japan and Chile. The Company 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 24% of the Company’s shares directly and through various
trusts.

For additional information, please visit the Company’s website at www.etrion.com
or contact:

Pamela Chouamier – Investor Relations

Telephone: +41 (22) 715 20 90



Note: The capacity of power plants in this release is described in approximate
megawatts on a direct current (“DC”) basis, also referred to as megawatt-peak
(“MWp”).

Etrion discloses the information provided herein pursuant to the Swedish
Securities Market Act. The information was submitted for publication at 08:05
Central European Time (CET) on November 4, 2014.

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 believes, expects or anticipates will or may occur in the future
(including, without limitation, statements relating to the anticipated impact of
Project Salvador on Etrion’s cash flow and expectations relating to the
development of additional projects in Japan and Chile) constitute forward
-looking information. This forward-looking information reflects the current
expectations or beliefs of the Company based on information currently available
as well as certain assumptions including, without limitation, assumptions with
respect to the amount of solar energy to be produced by Project Salvador and the
prices at which such energy will be sold and assumptions with respect to the
construction and development of additional projects. 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 Project Salvador will not produce energy
in the quantities expected, the risk that energy prices received by Project
Salvador will be lower than expected, 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 additional projects, the risk that the Company may not be
able to obtain project financing on economic terms and the risk of unforeseen
construction delays.

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.