Swiss-Canadian independent power company Etrion Corp. generated revenues of $7.0 million (2016: $3.3 million) and $19.2 million (2016: $10.2 million) during the three and nine months ended June 30, 2017, respectively. Net income was $35.1 million in Q3 2017, compared with loss of $92.6 million in Q3 2016. In the first nine month 2017 income was $20.7 million (9 month 2016: $-102.3 million). Electricity production was 49,174 MWh in Q3 2017 (Q3 2016: 41,705 MWh) and 141,563 MWh in the first nine month 2017 (2016: 119,957 MWh).
According to the company, construction of the 13.2 MW Komatsu solar project in northern Japan is competed by 75 percent, with estimated connection during the second quarter of 2018. Effective January 1, 2018, the company has appointed Christian Lacueva as Chief Financial Officer. He replaces Paul Rapisarda, who is resigning to pursue other interests. Also, effective January 1, 2018, the Company has promoted Martin Oravec to the position of Chief Investment Officer.
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