Etrion connects first site of 9.3 MW Mito solar project in Japan

May 29, 2015, Geneva, Switzerland - Etrion Corporation (“Etrion” or the
“Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, today
announced that the first site of the Mito solar project in Japan has been
connected to the grid and is fully operational. Mito is a 9.3 megawatt (“MW”)
utility-scale solar photovoltaic (“PV”) power project including five sites in
the Ibaraki Prefecture with staggered connection dates expected through August
2015.

The first Mito site connected represents 2.7 MW of the 9.3 MW total planned
capacity. This site includes 5.6 hectares and is expected to produce 3.1 million
kilowatt hours (“kWh”) of clean electricity per year. The 9.3 MW Mito project
includes a total of 28.3 hectares and, once fully operational, is expected to
produce a total of approximately 10.5 million kWh of solar electricity per year.

The Mito project is owned 87% by Etrion and 13% by Hitachi High-Technologies
Corporation (“Hitachi High-Tech”) (TOKYO: 8036), a subsidiary of Hitachi, Ltd.
The solar project is being built by Hitachi High-Tech using Canadian Solar poly
-crystalline PV modules, fixed-tilt technology and Hitachi inverters. The
project company has entered into a long-term, fixed-price operation and
maintenance agreement with Hitachi High-Tech. The Mito project company has also
entered into a 20-year power purchase agreement (“PPA”) with Tokyo Electric
Power Company (“TEPCO”) under which the project will receive ¥40 per kilowatt
-hour (“kWh”) of electricity produced. Sumitomo Mitsui Trust Bank, Limited
provided 80% of the financing for the project with an 18-year, non-recourse
loan.

Marco A. Northland, Etrion’s CEO, commented, “We completed the first site of the
9.3 MW Mito solar project on schedule and on budget thanks to the hard work of
our superb local team, our partner, Hitachi High-Tech, and the local utility,
TEPCO. We are on track to have all five sites of the Mito project connected by
the end of August 2015. In parallel, we look forward to advancing our Japanese
development pipeline in the months ahead.”

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 May 29, 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 the
expected grid connection dates for the remaining Mito project sites, the
anticipated production from the Mito project and the anticipated development of
the Company’s Japanese pipeline projects). 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 all
necessary financing and regulatory or other approvals will be obtained as and
when required and that current and future solar projects will be developed and
operated in a manner consistent with the expectations of the Company). 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 failure of the
Company to complete the construction and connection of the remaining Mito sites
as and when expected, the failure of the Mito project to operate as expected and
the inability of the Company to obtain the necessary financing and approvals to
advance the Japanese development pipeline as anticipated.

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.