The Swiss IPP attributed the net loss to unexpectedly low spot prices for electricity, as well as foreign-exchange losses and a $2.9m impairment in capitalised development costs.
Revenue from the group’s 23 projects in Japan, Italy and Chile rose slightly from 2014 to $50.4m.
“Japan should continue to be a terrific market for Etrion,” chief executive Marco Northland said in an online statement, explaining that the company aims to expand its pipeline in the country to more than 100MW in the coming years.
