Etrion Announces Preliminary 2014 Production and Financial Position Update

January 14, 2015, Geneva, Switzerland – Etrion Corporation (“Etrion” or the
“Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, announces
its preliminary production results and financial position for the year ended
December 31, 2014.

Operational Performance – Italy

During the year ended December 31, 2014, Etrion’s 100%-owned 60-megawatt (“MW”)
solar portfolio in Italy produced approximately 100.7 million kilowatt-hours
(“kWh”) of electricity, in line with the Company’s guidance. Etrion expects to
continue producing more than 100 million kWh of electricity from its Italian
operations on an annual basis.

In 2014, Etrion’s Italian solar plants had a weighted average availability of
99.7% (2013: 99.5%). A solar park’s availability measures the amount of time it
is able to generate power during daylight hours.

Etrion is currently renegotiating the operations and maintenance (“O&M”)
agreements in place with SunPower Corporation for two of its projects in Italy,
Cassiopea (24.0 MW) and Centauro (8.8 MW). Etrion expects to improve the service
terms while lowering its annual O&M costs for these projects by approximately
40%, effective June 2015 for Cassiopea and September 2015 for Centauro.

Operational Performance – Chile

During the year ended December 31, 2014, Etrion’s 70%-owned 70 MW Salvador solar
power plant in Chile (“Project Salvador”) produced approximately 6.7 million kWh
of electricity following completion of construction in November 2014. Project
Salvador is expected to enter full operational phase by February 2015. Etrion
expects Project Salvador to produce more than 200 million kWh of electricity on
an annual basis.

Financial Position

At December 31, 2014, Etrion had an unaudited cash balance of approximately
US$97.7 million, US$34.0 million of which was unrestricted and held at the
corporate level. At year-end, total debt on a cash basis amounted to
approximately US$509.2 million, including approximately US$412.1 million of non
-recourse project loans and approximately US$97.1 million of corporate bonds.
Net debt on a cash basis at December 31, 2014, was approximately US$411.5
million.

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

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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 07:50
Central European Time (CET) on January 14, 2015.

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 believes, expects or anticipates will or may
occur in the future (including, without limitation, statements relating to
anticipated production from Etrion’s Italian operations, expected reductions in
the O&M costs for the Cassiopea and Centauro projects, the anticipated timing
for Project Salvador to become fully operational and expected production from
Project Salvador).This forward-looking information reflects the current
expectations or beliefs of Etrion based on information currently available to it
as well as certain assumptions (including that Etrion’s solar projects will be
developed and operated in a manner consistent with its expectations and that the
Company will be able to renegotiate the O&M contracts for the Cassiopea and
Centauro projects on a basis consistent with the Company’s expectations).
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. Factors that could cause actual results or events to differ materially
from current expectations include, but are not limited to, the risk that the
Company’s Italian projects and Project Salvador may not produce electricity at
expected levels and the risk that the Company may not be able to conclude
negotiations for revisions to the O&M contracts for the Cassiopea and Centauro
projects on anticipated 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, Etrion 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
Etrion 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 thereof.