Etrion Provides Update on Italian Operations and Schedules Investor Conference Call

Etrion Provides Update on Italian Operations and Schedules Investor Conference 
Call 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: Etrion Corporation 
TSX SYMBOL:  ETX
OMX SYMBOL:  ETX 
JUNE 25, 2014 
Etrion Provides Update on Italian Operations and Schedules Investor Conference
Call 
GENEVA, SWITZERLAND--(Marketwired - June 25, 2014) - Etrion Corporation (Etrion
or the Company) (TSX:ETX)(OMX:ETX), a solar independent power producer,
provides an update on the Company's Italian operations and schedules an
investor conference call at 10:00 Eastern Daylight Time (EDT) / 16:00 Central
European Time (CET) on Thursday, June 26, 2014. 
Italian Government Proposal 
On June 24, 2014, the Italian government published a new decree outlining,
among other things, certain proposed changes to the current Italian
Feed-in-Tariff (FiT) regime. This decree, effective June 25, 2014, is subject
to Parliamentary approval, which is expected to take place within 60 days of
the decree's publication, during which time, the new decree may be amended
or fully rejected. 
The Italian FiT currently entails a 20-year commitment from the Italian
state-owned company, Gestore Servizi Energetici (GSE), to pay a constant
premium rate for all solar electricity produced at a fixed rate defined on the
basis of the connection date. Etrion's Italian solar parks have an average
residual incentive period of 16 years. In addition to the FiT, solar power
generators in Italy receive the spot market rate for all solar electricity
produced. In 2013, the spot market accounted for approximately 15% of
Etrion's Italian revenues. 
The proposed changes would impact the revenues received by solar power
producers by reducing the annual FiT incentive to be paid by the GSE.
Specifically, the proposal outlines a reduction of the original FiT, effective
January 2015, between 17% and 25%, depending on the remaining incentive period,
offset by an extension of the incentive period from 20 to 24 years.
Alternatively, solar power producers can voluntarily elect a flat 8% reduction
of the FiT for the remaining incentive period without an extension. In
addition, the new decree introduces certain changes to the payment of the FiT,
starting July 2014, whereby approximately 10% is delayed until June of the
following year.  
The final implementation of the law is uncertain, and it is possible that
changes to the new decree may be introduced by Parliament. Etrion is working
closely with legal advisors and project lenders to assess the implications of
the proposed decree.  
Management Comments 
Marco A. Northland, the Company's Chief Executive Officer, commented,
"I am very disappointed with the measures proposed by the Italian
government and the impact this could have on the solar market and foreign
direct investment in Italy. Although this proposed decree is not yet final, we
have started to analyse the potential impact such decree may have on our
Italian portfolio and are exploring options to best optimize the economics
given Etrion's strong track record in Italy and above expectation
performance. The proposed changes highlight the importance of our strategy
shift two years ago to diversify into new markets with different contract
regimes."  
Mr. Northland continued, "All of our growth plans today are focused on
countries outside of Europe, and Italy represents less than 50% of our expected
installed capacity in 2015. In Chile, construction of the 70 MW Project
Salvador is ahead of schedule, and we expect to begin generating electricity by
the end of Q4-2014. In Japan, we expect to reach financial close on our first
two projects with a combined capacity of 34 MW by the end of Q3-2014 and begin
construction by the end of the year." 
Investor Conference Call 
A conference call/webcast to discuss the proposed changes will be held on
Thursday, June 26, 2014, at 10:00 Eastern Daylight Time (EDT) / 16:00 Central
European Time (CET).  
Dial-in details:  
North America and International: +1-647-788-4922 / Toll Free: +1-877-223-4471 /
Sweden Toll Free: 02-079-4343  
A replay of the telephone conference will be available until July 3, 2014.  
Replay dial-in details:  
North America and International: +1-416-621-4642 / Toll Free: +1-800-585-8367 
Pass code for replay: 64704761 
About Etrion 
Etrion Corporation is an independent power producer that builds, owns and
operates utility-scale solar power generation plants. Etrion owns 17 solar
power plants in Italy with approximately 60 MW of installed capacity. 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 24% of the
Company's shares directly and through various trusts. 
Etrion discloses the information provided herein pursuant to the Swedish
Securities Market Act. The information was submitted for publication at 23:05
CET on June 25, 2014. 
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 the Company believes, expects or anticipates will or may
occur in the future (including, without limitation, statements relating to the
proposed changes to the Italian FiT regime and the development and timing of
the Company's projects in Chile and Japan) 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 with respect to the changes to the Italian FiT regime going into
effect and the ability of the Company to obtain required permits for its
projects in a timely fashion and project financing on economic terms. 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 possibility that
the changes to the Italian FiT regime will differ significantly from those
currently proposed, uncertainties with respect to the receipt or timing of all
applicable permits for the development of the Company's projects, the risk
that the Company may not be able to obtain project financing on economic terms
and the risk of delays in construction of the Company's projects. 
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. 
-30-
FOR FURTHER INFORMATION PLEASE CONTACT: 
Etrion Corporation
Pamela Chouamier
Investor Relations
+41 (22) 715 20 90
www.etrion.com 
INDUSTRY:  Energy and Utilities - Alternative Energy 
SUBJECT:  CAL 
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-0- Jun/25/2014 21:05 GMT
 
 
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