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Press release from Business Wire

Carmanah Installs $1.4 Million Solar Rooftop Photovoltaic System for Ontario Refrigeration Facility

Tuesday, November 29, 2011

Carmanah Installs $1.4 Million Solar Rooftop Photovoltaic System for Ontario Refrigeration Facility09:00 EST Tuesday, November 29, 2011 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 sources. “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 largest 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 rwayte@carmanah.com, or visit Carmanah at the Canadian Solar Industries Association Conference and Exposition December 5-6th, 2011. About Carmanah Technologies CorporationCarmanah 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.Carmanah Technologies CorporationInvestors:Investor Relations: Roland Sartorius, CFOToll-Free: 1-877-722-8877investors@carmanah.comorMedia:Public Relations: David DaviesTel: +1-250-382-4332ddavies@carmanah.com