KarmSolar secures $2.4 million funding from QNB ALAHLI

KarmSolar secures $2.4 million funding from QNB ALAHLI

Press release:

Leading solar energy company and multi-utility enterprise KarmSolar, has secured EGP47 million in funding for the first financed solar Power Purchase Agreement (PPA) battery storage system in Egypt, from Qatar National Bank ALAHLI (QNB ALAHLI), with advisory led by Ezdaher Financial Advisory, an Egypt-based debt advisory firm.

This comes as part of a Phase 2 expansion of KarmSolar’s existing solar microgrid solution for the Cairo 3A poultry farm facility in the Bahareya Oasis in Giza, Egypt.