Etrion provides estimates and forecasts and other required disclosure

January 17, 2014, Geneva, Switzerland – Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, announces estimates and forecasts in respect of revenues and EBITDA, information regarding its pipeline projects in Chile and Japan, updated financial information on capitalization and indebtedness and an operational performance update for Italy.

Please see the attached PDF file for full financial figures and tables.

About Etrion
Etrion Corporation is an independent power producer (“IPP”) that builds, owns and operates utility-scale solar power generation plants. The Company owns 17 solar power plants in Italy with approximately 60 MW of installed capacity. The Italian operations generate more than USD 40 million of annual earnings before interest, taxes, depreciation and amortization (“EBITDA”). Etrion is also 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”. Etrion’s largest shareholder is the Lundin family, which owns approximately 25 percent 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

Etrion discloses the information provided herein pursuant to the Swedish Securities Market Act. The information was submitted for publication at 17:30 CET on January 17, 2014.

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

Forward-Looking Information:

This press release contains certain “forward-looking information” (including a “financial outlook”) within the meaning of applicable Canadian securities laws, such financial outlook appearing herein under the heading “Estimates and Forecasts”. 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 Company’s anticipated electricity production from its producing Italian operations and from Project Salvador, Aguas Blancas, Aguas Blancas 2 and Las Luces once such solar plants are operational; the expected construction start dates for Aguas Blancas, Aguas Blancas 2 and Las Luces; the targeted period for the Japanese pipeline projects to be shovel ready or under construction; and estimated and forecasted revenues and EBITDA for 2013, 2014 and 2015, as applicable, with respect to the described Italian and Chilean platforms) constitute forward-looking information. This forward-looking information reflects the expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions including, without limitation, that: solar irradiation will continue at expected levels; financing and labour costs associated with the construction of new plants will be available and on anticipated terms and that such projects will produce the anticipated amount of electricity when constructed; Sirocco Mining Inc. will proceed with its expansion of mining operations; the Company will be able to enter into PPAs with industrial clients; the Italian FiT regime will not provide for any material price decreases or other material adverse changes in the near term; Japan and Chile will remain attractive jurisdictions to develop solar power; and certain other assumptions described herein relating to the Company’s estimates and forecasts. 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: uncertainties with respect to the receipt or timing of applicable permits for the development of the projects to be built; the possibility of delays in construction; the possibility of cost overruns for projects to be built; the failure of the projects to be built to produce, and existing operating plants continuing to produce, electricity at anticipated levels; the failure of the Company to enter into PPAs; spot market prices being materially lower than anticipated; adverse changes to the Italian FiT regime that would materially reduce the FiT payable to the Company; the risk that Aguas Blancas 2 and Las Luces may not be developed further; the failure of Sirocco Mining Inc. to expand its mining operations; the failure by the Company to obtain financing on economic terms when and if required for the particular project; uncertainties with respect to certain financial information relating to solar electricity revenue in Italy that is subject to confirmation of both the applicable FiT to which the Company is entitled by the Italian state-owned company, Gestore Servici Energetici, and the applicable spot market price by local utilities for electricity sales to the Italian national grid; the impact of general economic conditions and world-wide industry conditions in the jurisdictions and industries in which the Company operates or intends to operate.

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.