Etrion Corporation announced the signing of a project finance agreement with Sumitomo Mitsui Trust Bank, Limited ("SuMi Trust") for the construction of the 13.2-megawatt ("MW") Komatsu solar project located in the Ishikawa Prefecture of Japan. Komatsu is a 13.2 MW solar photovoltaic ("PV") power plant to be built on one site in the Ishikawa Prefecture of Japan. Construction-related works are expected to begin in February 2017, and the solar project is expected to be fully operational by the second quarter of 2018.

The solar power plant will be built on 30.5 hectares of leased land and will connect through the Hokuriku Electric Power Co. Inc. Etrion will own 85.1% of the Komatsu project, and Hitachi High-Technologies will own the remaining 14.9%. The total project cost will be financed approximately 83% through project debt from SuMi Trust with a tenor equal to the construction period plus 19 years of operations.

The remaining 17% of total project cost will be funded pro-rata by Etrion and Hitachi High-Technologies according to their respective equity interests.