Etrion Corporation Announces Preliminary Production Results for the Year Ended December 31, 2013; Provides Update on Project Salvador
The company announced that Project Salvador, a 70-megawatt solar project in the Atacama region of Chile, is proceeding as planned. The long-term, non-recourse financing was recently signed with the Overseas Private Investment Corporation (OPIC), and first disbursement of the loan was made in December 2013. Etrion expects the solar plant to commence partial commercial operations during Q4-2014, with full commissioning expected in early 2015. Upon completion, Project Salvador will enter into a long--term, fixed--price operation and maintenance agreement with SunPower. Once fully operational, Project Salvador is expected to produce approximately 140 million kWh of solar electricity per year net to Etrion's initial 70% ownership interest.