Etrion Completes Oria Solar Park in Italy

Etrion Completes Oria Solar Park in Italy

December 15, 2010, Geneva, Switzerland - Etrion Corporation (“Etrion” or
the “Company”) (TSX: ETX) (OMX: ETX), an independent solar power
producer, today announced the completion of the Oria solar park in
Puglia, Italy.

Marco Northland, Etrion's CEO, commented, “We are pleased to announce
the completion of the Oria solar park built by SunPower.  We expect to
connect the remaining 2 MW of our SVE portfolio in Italy before the end
of the year.  We are happy to supply clean energy to the holiday lights
in Puglia.” 

The 1 MW Oria park is expected to produce over 1.7 million kilowatt
hours (“kWh”) of clean electricity and more than 600,000 euros of
earnings before interest, taxes, depreciation and amortization
(“EBITDA”) per year.

The project benefits from the 2010 feed-in-tariff of 0.346 euros per kWh
plus a market price of approximately 0.08 euros per kWh. 

The Italian feed-in-tariff is a premium purchase price for solar
electricity that is guaranteed by the Italian government for 20 years
from the start of operations.

The 1 MW Oria park is a ground-based solar PV power plant using
SunPower's high-efficiency PV modules and single axis tracker technology
with Siemens inverters.

Centrobanca, an Italian bank, provided 83% of the financing for the
project with a 17.5-year, non-recourse loan.

About Etrion

Etrion Corporation develops, builds, owns and operates solar power
plants in Italy. Etrion currently owns 41 megawatts (MW) of operational,
ground-based solar photovoltaic (PV) power plants, has 17 MW of solar
parks under construction and approximately 200 MW of solar development
pipeline in Italy. Etrion is listed on the Toronto Stock Exchange and
the NASDAQ OMX Stockholm exchange (ticker symbol “ETX”).

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

Robert Eriksson - Investor Relations
Telephone: +46 (0)701 11 2615 

  
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 the Company believes, expects or
anticipates will or may occur in the future (including, without
limitation, statements relating to the Oria solar park, the production
capacity thereof and the expected cash flow therefrom) 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, assumptions as to the price at which the
Company will be able to sell electricity from the project and an
assumption that the Company will be able to realize EBITDA margins for
the project that are equivalent to the average margins for similar
projects. 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 failure
to obtain necessary regulatory and other approvals.

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.