Etrion receives final installment of JPY 200 million ($1.8 million) from Kumamoto sale

World News: . []

GENEVA, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX) (OMX: ETX), a solar independent power producer, has collected the final instalment of JPY 200 million ($1.8 million) under the rights sale agreement for the 45 MW Kumamoto solar park project rights in the Kumamoto prefecture of southern Japan.  In December 2018, Etrion reached an agreement and transferred all the rights of the Kumamoto solar park project to the original developer for total consideration of JPY 610 million ($5.5 million), of which JPY 410 million ($3.7 million) was previously collected by Etrion, and the remaining JPY 200 million ($1.8 million) was received yesterday upon meeting certain conditions associated with the permitting of the project.  

Marco A. Northland, Etrion’s Chief Executive Officer, commented: “I am very pleased to announce that we received the full amount under the Kumamoto rights sale agreement of approximately $5.5 million and that we continue to deliver on the objectives outlined for 2019.”

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

Christian Lacueva – Chief Financial Officer  Telephone: +41 (22) 715 20 90

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

Etrion discloses the information provided herein pursuant to the Swedish Securities Market Act. The information was submitted for publication at 8:05 a.m. CEST on September 11, 2019.

More news and information about Etrion Corporation

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Globe Newswire: 07:05 GMT Wednesday 11th September 2019

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