VICTORIA, BRITISH COLUMBIA, CANADA (March 12, 2009) - As part of an ongoing renewable energy initiative, the Toronto Parking Authority (TPA) in Ontario, Canada is installing a solar powered grid-tie system from Carmanah Technologies Corporation (TSX: CMH). Valued at approximately $248,000, the wall mounted grid-tie system will generate electricity from the sun's energy to help power the TPA facility, reducing the facility's reliance on the Toronto Hydro distribution system while helping to control energy expenses. To help offset the capital expenditure of the upgrade, the integrated solar power system will also generate revenue through a contract with the Ontario Power Authority's Renewable Energy Standard Offer Program (RESOP).
Based in Victoria BC, Carmanah Technologies is a leading provider of solar power systems for grid-tie applications across Canada. Other recent grid tie applications include a 5 kW system on a new Canadian Tire store in Welland, Ontario, and a 108 kW system on the new Jean Canfield Government Building in Prince Edward Island - named Canada's 2008 Solar Project of the Year by the Canadian Solar Industries Association (CanSIA).
About the Toronto Parking Authority
The Toronto Parking Authority is a self-sustaining public corporation owned by the City of Toronto. It contributes significant revenues to the City's general reserves while successfully meeting its mandate to provide safe, attractive, conveniently located and competitively prices off and on-street public parking. For more information, visit, www.greenp.com.
About Carmanah Technologies Corporation
As one of the most trusted names in solar technology, Carmanah has earned a reputation for delivering strong and effective products for industrial applications worldwide. Industry proven to perform reliably in some of the world's harshest environments, Carmanah solar LED lights and solar power systems provide a durable, dependable and cost effective energy alternative. 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.
Carmanah Technologies Corporation
Chief Financial Officer
For further information, please contact:
Investor Relations: Roland Sartorius
Public Relations: David Davies
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, 2008, 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.