Etrion Confirms Engagement of Greenhill & Co. to Assist in Possible Sale of Italian Portfolio

September 13, 2016, Miami, Florida – Etrion Corporation (“Etrion” or the
“Company”) (TSX: ETX / OMX: ETX), a solar independent power producer, confirms
that it has engaged financial advisor Greenhill & Co. International LLP to
assist in evaluating the possible sale of the Company’s 60-megawatt Italian
solar portfolio. The sale of the Italian portfolio would allow the Company to
recycle some of its capital and focus its efforts on its expanding asset
portfolio in Japan.

No agreement has been reached with respect to the sale of all or any portion of
the Italian portfolio and no assurance can be given that any such sale will be
concluded.

About Etrion

Etrion Corporation is an independent power producer that develops, builds, owns
and operates utility-scale solar power generation plants. The Company owns 139
MW of installed solar capacity in Italy, Chile and Japan. Etrion has 34 MW of
solar projects under construction in Japan and is also actively developing
additional greenfield solar power projects in 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.

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

Paul Rapisarda – Chief Financial Officer

Telephone: +1 786 636 6449

 Etrion discloses the information provided herein pursuant to the Swedish
Securities Market Act and applicable Canadian securities legislation. The
information was submitted for publication at 08:05 Central European Time (CET)
on September 13, 2016.

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
possible sale of Etrion’s Italian solar portfolio and its asset portfolio in
Japan). 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 assumptions as to the ability of Etrion to expand
its project portfolio in Japan). 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 risks that Etrion may not be able to conclude the sale of all or
any portion of its Italian portfolio on commercially advantageous terms or at
all, Etrion may not be able to obtain all applicable permits for the development
of its Japanese development projects, Etrion may not be able to obtain the
necessary financing for such projects on economic terms and the development
costs for such projects may be higher than 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.