Carmanah to Build Innovative PV System for BrightRoof Solar
TORONTO, ONTARIO, CANADA (November 14, 2012) BrightRoof Solar LP has contracted Carmanah Technologies (TSX: CMH),to design and build a 250 kW solar photovoltaic (PV) system on an industrial building with varied roof surfaces. Carmanah's Solar Engineering Construction Procurement (EPC) Services group will begin installation of the rooftop facility in Wallaceburg, Ontario later this month.
BrightRoof Solar participates in Ontario's Feed-In Tariff program as a long-term owner and operator of rooftop solar facilities. Carmanah's successful experience in the industry has led to multiple projects with similar solar generating businesses including PowerStream Solar, Toronto Hydro and Northland Power.
This project required a unique inverter and racking solution for the varied roof surfaces on the host building. Carmanah's experienced EPC team designed an integrated racking system from Polar Racking and Schletter Canada - local Windsor based companies - to support both flat and sloped surfaces respectively. To accommodate multiple slopes within the surface of the host's roof, Carmanah incorporated into its design a central inverter from Power One which features a modular architecture and multiple maximum power point trackers (MPPT).
"We are very happy to be working Carmanah on this project, and with the attention to detail Carmanah provided for this physically challenging facility," said David Oxtoby, a director of BrightRoof Solar LP.
Carmanah is an award-winning Solar EPC services provider that has installed more than 70 solar systems (http://carmanah.com/EPC/installation-portfolio/project-list) across Canada. Recent projects include PowerStream Solar's Mount Joy Community Centre and Toronto Hydro installations at McGregor, Mimico and York Mills Arenas. Carmanah's Solar EPC Services group will be exhibiting at CanSIA Solar Canada 2012 (http://carmanah.com/company/news-and-updates/company-update/carmanah-exhibiting-cansia-solar-canada-2012-dec-3-4th) on December 3-4th, in booth 805.
For more information on this or other solar grid-tie applications within Canada, please contact Richard Wayte at firstname.lastname@example.org or visit carmanahEPC.com (http://carmanah.com/EPC).
About Carmanah Technologies Corporation (TSX: CMH)
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 EPC Services group oversees the design, supply, and installation of solar photovoltaic systems for commercial, industrial and institutional applications. As one of the most trusted EPC contractors in Canada, Carmanah has installed more than 70 grid connected solar power systems in Canada, including the Dr. 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 http://www.carmanah.com.
For further information:
Investor Relations: Roland Sartorius, CFO
Public Relations: David Davies
This news release contains "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements are generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets," "could," "estimates," "expects," "forecasts," "projects" and similar expressions, and the negative of such expressions. Forward-looking statements in this news release include statements about the Engineering Procurement Construction (EPC) Agreement with BrightRoof Solar LP (the " contract"); the scope of the EPC Agreement; obtaining funding and finalization of technical specifications for the Solar Photovoltaic (PV) System, and timing thereof; completion of the installation of the Solar PV System; and Carmanah's strategy, future operations, prospects and the plans of management.
With respect to the forward-looking statements contained in this news release, Carmanah has made numerous assumptions regarding, among other things, the completion of the BrightRoof Solar LP Order, including funding thereof, and the ability of the parties to the EPC Agreement to finalize technical specifications. While Carmanah considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause Carmanah's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained herein. Known risk factors include, among others: the transactions contemplated in the EPC Agreement may not be completed as currently anticipated, or at all; the BrightRoof Solar LP Order may not receive necessary funding in the timeframe contemplated, or at all, and the BrightRoof Solar LP Order may never be completed; the parties to the EPC Agreement may not be able to finalize technical specifications for the Solar PV System within the timeframe contemplated, or at all; Carmanah may never complete installation of the Solar PV System; and general risks related to the competitive environment, competition with other energy sources, technological changes; ability to manage expansion effectively, foreign exchange, reliance on third party manufacturers, reliance on outside agents and distributors, reliance on key employees, intellectual property risks, environmental and regulatory compliance, government contracts and subsidies, product quality and reliability and warranty liability risk, downturn in economic and market conditions, liquidity and capital requirements, litigation risk, potential reorganization of operations or product offerings, and geopolitical and other global or local events. A more complete discussion of the risks and uncertainties facing Carmanah appears in Carmanah's most recently filed Annual Information Form, Annual MD&A, and other continuous disclosure filings which are available on SEDAR at www.sedar.com and on the Company's website at Carmanah disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.
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