Egypt-based cleantech KarmSolar raised $2.4 million in funding from Qatar National Bank ALAHLI

Share via:

Egypt-based cleantech KarmSolar raised $2.4 million in funding from Qatar National Bank ALAHLI (QNB ALAHLI) with advisory led by Ezdaher Financial Advisory, an Egypt-based debt advisory firm.

KarmSolar provides renewable energy to several sectors in Egypt as part of its goal to expand the private clean energy market. According to the company, Phase 2 of the project will include the addition of a battery storage system as well as an expansion of the capacity of the existing solar station. The new funding will be used to finance the solar Power Purchase Agreement (PPA) battery storage system, as well as to expand KarmSolar’s plans to deploy battery solutions on a larger scale in Egypt and throughout the region.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

Popular

More Like this

Egypt-based cleantech KarmSolar raised $2.4 million in funding from Qatar National Bank ALAHLI

Egypt-based cleantech KarmSolar raised $2.4 million in funding from Qatar National Bank ALAHLI (QNB ALAHLI) with advisory led by Ezdaher Financial Advisory, an Egypt-based debt advisory firm.

KarmSolar provides renewable energy to several sectors in Egypt as part of its goal to expand the private clean energy market. According to the company, Phase 2 of the project will include the addition of a battery storage system as well as an expansion of the capacity of the existing solar station. The new funding will be used to finance the solar Power Purchase Agreement (PPA) battery storage system, as well as to expand KarmSolar’s plans to deploy battery solutions on a larger scale in Egypt and throughout the region.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

More like this

NTPC Electron Quiz 2023 Grand Finale Unveils Thrilling Battle...

NTPC Electron Quiz 2023 Grand Finale Unveils Thrilling Battle...

Ecommerce Enabler POP to Introduce Shopping Currency, POPcoins, for...

Ecommerce enabler POP has announced it will onboard about...

Healthcare logistics platform AllTrak raises INR 4.2Cr in Pre-Series...

AllTrak, a healthcare Technology and logistics platform has raised...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!