Etrion Corporation announced an update for its Aguas Blancas solar project in Chile. The Aguas Blancas solar project is an 8.8 MW solar photovoltaic park under development in the Antofagasta region of Chile. The project is owned 100% by Etrion and is expected to sell electricity to the Aguas Blancas iodine mine in northern Chile through a 15 year takeorpay, USD denominated power purchase agreement with Atacama Minerals Chile S.C.M. Operations at part of the mine will be temporarily suspended, and the expansion of the mine will be delayed.

Sirocco anticipates that operations at the mine will be restarted early in 2015, and the expansion of the mine will follow shortly thereafter. The Aguas Blancas solar park was expected to be under construction by First Quarter 2014 and to be operational by July 2014. Etrion expects construction of the solar park to be delayed by 12 months.

Etrion plans to invest approximately USD 5.0 million or about 30% of the estimated total project cost. The balance is expected to be funded by a longterm, nonrecourse project loan. In the first full year of operation, based on the preliminary project equipment cost and financing assumptions, the Aguas Blancas solar park is expected to generate revenues of approximately USD 2.8 million, earnings before interest, taxes, depreciation and amortization (EBITDA) of USD 2.0 million and free cash flow of USD 0.5 million.