|[November 29, 2011]
Carmanah Installs $1.4 Million Solar Rooftop Photovoltaic System for Ontario Refrigeration Facility
VICTORIA, British Columbia --(Business Wire)--
Carmanah Technologies Corporation (TSX: CMH) received a $1.4M CAD
contract from a commercial refrigeration service provider in Southern
Ontario and at present has designed, supplied and installed a nominal
250 kW solar rooftop photovoltaic (PV) system.
The solar array occupies roughly 30,000 square feet of the facility's
rooftop, and generates approximately 300,000 kWh of clean, carbon-free
electricity annually-an amount equivalent to that consumed by 25 average
Canadian households. The rooftop-mounted solar system generates revenue
under the refrigeration service provider's contract with the Ontario
Power Authority's Feed-In-Tariff (FIT) program.
The Ontario FIT program allows owners of an electrical service
connection to sell energy from renewable resources, including solar,
back into the electrical distribution grid. The Ontario Power
Authority's FIT program offers Ontario residents, businesses and
government bodies or institutions a wide range of benefits, including
job creation through provincial content requirements and distributed
power generation. Distributed power generation helps to increase
stability of the electrical infrastructure by decreasing the burden on
large centralized generating facilities and reduces both long term
environmental and health costs associated with non-renewable energy
"Now that the FIT program is in place, it makes financial sense for
Ontario corporations to explore renewable energy production as a way to
reduce operating expenses, while also delivering on their own
sustainability mandates. For a high energy user, with plenty of roof
space such as a cold storage facility, a rooftop PV system is a smart
long term investment." said Carmanah CEO, Bruce Cousins.
Carmanah is one of the lrgest engineering, procurement and construction
contractors of rooftop photovoltaic facilities in Canada with its
Grid-Tie head office based in Toronto, Ontario. For more information on
this or other solar grid-tie applications within Canada, contact Richard
Wayte at email@example.com,
or visit Carmanah at the Canadian Solar Industries Association
Conference and Exposition December 5-6th, 2011.
About Carmanah Technologies Corporation
Carmanah Technologies Corporation is a global provider of renewable
and energy-efficient technologies. From its headquarters in Victoria,
British Columbia, Canada, and office in Toronto, Ontario, the company's
Grid-Tie division oversees the design, supply, and installation of solar
photovoltaic grid-tied systems for commercial, industrial and
institutional applications. As one of the most trusted names in solar
technology, Carmanah has installed more grid-tie solar power systems
than any other integrator or EPC contractor in Canada, including the
City of Toronto Police Services building, the Toronto Parking Authority,
the David Suzuki Public School, and the Jean Canfield Government
Building in Prince Edward Island - named Canada's 2008 Solar Project of
the Year by the Canadian Solar Industries Association (CanSIA). Carmanah
is a publicly traded company, with common shares listed on the Toronto
Stock Exchange under the symbol "CMH". For more information, visit www.carmanah.com.
This release may contain forward-looking statements. Often, but not
always, forward-looking statements can be identified by the use of words
such as "expects," "plans," "estimates," "intends," "believes," "could,"
"might," "will" or variations of such words and phrases. Forward-looking
statements involve known and unknown risks, uncertainties, and other
factors which may cause the actual results, performance, or achievements
of Carmanah to be materially different from any future results,
performance, or achievements expressed or implied by the forward-looking
statements. These statements are based on management's current
expectations and beliefs and are subject to a number of risks and
uncertainties. For additional information on these risks and
uncertainties, see Carmanah's most recently filed Annual Information
Form (AIF) and Annual MD&A, which are available on SEDAR at www.sedar.com
and on the Company's website at www.carmanah.com.
The risk factors identified in Carmanah's AIF and MD&A are not intended
to represent a complete list of factors that could affect Carmanah.
Accordingly, readers should not place undue reliance on forward-looking
statements. Carmanah does not assume any obligation to update the
forward-looking information contained in this press release.
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