Company

PowerStream Solar Awards Carmanah $2 Million Solar PV Contract

 

VICTORIA, BRITISH COLUMBIA, CANADA (December 5, 2011) Carmanah Technologies Corporation (TSX: CMH) has been awarded a contract by PowerStream Inc, to supply and install a 350 kW rooftop solar photovoltaic (PV) system for the Thornhill Community Centre located in Markham, Ontario. The Carmanah rooftop solar PV system, valued at approximately $2 million (CAD), began construction in October 2011.
 
PowerStream is the second largest municipally-owned electricity distribution company in Ontario, delivering power to more than 330,000 customers in communities located immediately to the north of Toronto and in Central Ontario. Jointly owned by the municipalities of Barrie, Markham and Vaughan, PowerStream established a solar division that develops, owns and operates grid-tied solar generation facilities on the roof-tops of commercial, industrial and institutional buildings in Ontario.  As the owner and operator of these PV generating facilities, PowerStream will receive revenue through the Ontario Power Authority’s (OPA) Feed-in-Tariff program (FIT). Carmanah will engineer, procure and construct a 350 kW (AC) capacity solar PV system at the Thornhill Community Center. Since 2001, Carmanah has completed more than 55 solar grid-tie systems and their portfolio includes more than 20 completed FIT projects in Ontario. 
 
“Carmanah is excited about the opportunity to work with PowerStream,” comments Bruce Cousins, Carmanah CEO. “Combining Carmanah’s expertise with PowerSteam’s knowledge of the energy industry, and their deep roots in Ontario, puts PowerStream in a strategic situation to make significant in-roads in the FIT rooftop marketplace for PV.”
 
To ensure that the project meets the FIT program’s 60% domestic content requirements, Carmanah is constructing a solar array featuring 300W solar modules from Heliene of Sault Ste. Marie, a SolarDock ballasted racking solution from SunRise Power of Peterborough and a pair of PowerGate inverters from Satcon of Burlington. This project between Carmanah and PowerStream is scheduled to be commercially operational in early 2012.
For more information on this or other solar grid-tie applications within Canada, contact Richard Wayte at rwayte@carmanah.com, or visit Carmanah’s Grid-Tie team at the CanSIA Conference and Exposition, December 5 – 6th, in Booth #1003.
 
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About PowerStream Inc.
PowerStream Inc. is  the second largest municipally-owned electricity distribution company in Ontario, providing service to more than 330,000 customers residing or owning a business in communities located immediately north of Toronto and in Central Ontario. The communities served include Alliston, Aurora, Barrie, Beeton, Bradford West Gwillimbury, Markham, Penetanguishene, Richmond Hill, Thornton, Tottenham and Vaughan. PowerStream is an incorporated entity, jointly owned by the City of Barrie, the City of Vaughan and the Town of Markham.
 
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.
For further information:
Investors:
Investor Relations: Roland Sartorius, CFO
Toll-Free:  1.877.722.8877
Media:
Public Relations: David Davies
Tel:  +1.250.382.4332
 
 
 
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.