Etrion Completes Matino Solar Park in Italy

GENEVA, SWITZERLAND--(Marketwire - Dec. 28, 2010) - Etrion Corporation ("Etrion" or the "Company") (TSX:ETX)(OMX:ETX), an independent solar power producer, announces the completion of the Matino solar park in Puglia, Italy.

Marco Northland, Etrion's CEO, commented, "We are pleased to announce the completion of the third park from our 3 MW SVE project in Italy."

The Matino park has a total capacity of 1 MW and 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 is expected to benefit 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 Matino 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.

Source: http://feedproxy.google.com/~r/blogspot/NrBn/~3/JhztNS7wAIg/etrion-completes-matino-solar-park-in.html

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