Etrion records slight drop in revenue due to lower solar power production

Swiss independent power producer Etrion Corp., which owns and operates 17 solar power plants in Italy totaling approximately 60 MW, recorded a slight decrease in revenue and profits in 2013. Etrion achieved revenue of $53.9 million last year, slightly down from $55.7 million in 2012. All of the company’s revenue comes from the Italian PV plants, which produced 104.9 million kWh last year, down from 107.8 kWh a year earlier. Etrion’s net loss widened from $8.5 million in 2012 to $10.3 million in 2013.
Earlier this year, Etrion and SunPower Corp. began construction on a 70 MW PV project in northern Chile’s Atacama region. Etrion is developing the $200 million PV project with SunPower parent company Total SA and local solar developer Solventus Energias Renovable. Electricity produced by the plant will initially be sold on the spot market, but Etrion said it intends to secure PPAs for the project in the future. The plant is expected to be fully commissioned in the first quarter of 2015. Etrion is also working with Hitachi High-Technologies Corp. on two PV projects totaling 34 MW in Japan. Construction on both is expected to begin later this year. Etrion will own 70% of the Chile project and 85% of the two Japanese projects.
© PHOTON