Company

Carmanah Awarded $1.5 Million Solar PV Contract by Town of Markham

VICTORIA, BRITISH COLUMBIA, CANADA (July 7, 2010) - Carmanah Technologies Corp. has been awarded a $1.5 million (CAD) contract by the Town of Markham, Ontario to supply, install, and commission a 250 kW solar photovoltaic grid-tie system. The system will be installed on the Town's newly re-located Emergency Operation Centre.

The project is being funded by a combination of Markham's own capital budget money and infrastructure stimulus funds provided through a funding partnership with the governments of Canada and Ontario. Once operational, the new solar photovoltaic grid-tie system will generate revenue through the contracted sale of energy from the Ontario Power Authority (OPA) under the Feed-In-Tariff (FIT) program at a rate of $0.713/kWh. From the annual revenue received by the system under the OPA FIT contract, Markham will pay down its capital budget investment portion within the first five years of operation, the remaining 15 years of the contract revenues are proposed to be reinvested in future Markham energy projects. In concert with the revenue generation, the new system will also support Markham's long-standing commitment to renewable energies and sustainable technology.

In selecting a solar grid-tie provider for the project, Carmanah Technologies was chosen over four competing candidates. Markham's Manager of Climate Change and Energy and bid evaluation team member, Graham Seaman, comments that the decision to choose Carmanah Technologies was based on the company's experience and success in similar commercial rooftop solar grid-tie system installations. "Carmanah earned their selection by scoring more points than its competitors making it the highest ranked proponent. Based on their past experience in similar projects and by having a more qualified design and project management team than the other bidders, the choice was clear," said Seaman. Markham believes that implementing a large-scale solar project such as this will help to demonstrate its leadership in renewable energy generation and serve to increase its profile in the renewable energies field. Markham is already home to the head offices for high-tech giants Avaya, IBM, Motorola, Toshiba, Lucent, Sun Microsystems, Apple and AMEX.  

Carmanah CEO Ted Lattimore says that the Company's established credibility in the Canadian solar grid-tie market has marked Carmanah as a prime contender for Ontario FIT project inclusion. "The new OPA FIT program presents a great opportunity for renewable energy companies. Carmanah's long-standing history of successful solar installations across Canada and full-service design-build capabilities position us well to support FIT projects of any scale. With more than 50 completed grid-tied solar projects across Canada, Carmanah has been at the forefront of the domestic industry for nearly 10 years."

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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 carmanah.com.

About the Town of Markham

Markham, a municipality of over 300,000 residents centrally located in the Greater Toronto area, is Canada's most diverse community and home to many of Canada's leading life science and technology businesses. It is renowned for a rich heritage, vibrant neighbourhoods, and leadership on the environment and urban design.

Carmanah Technologies Corporation

"Roland Sartorius"

Roland Sartorius
Chief Financial Officer


For further information, please contact:

Investors:
Investor Relations
Tel: +1.250.380.0052
Toll-Free: 1.877.722.8877
investors@carmanah.com

Media:
Public Relations: David Davies
Tel: +1.250.382.4332
ddavies@carmanah.com

Forward Looking Statements

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 which are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in Carmanah's Annual Report for the fiscal year ended December 31, 2009, as filed on SEDAR at www.sedar.com. The risk factors identified in Carmanah's Annual Report 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.