The NREA Outlines Project Plans for Two Large Solar and Wind Energy Projects
This year, Egypt publicly set the goal of achieving 42% of its electricity from renewable sources by 2035. In line with that, The New and Renewable Energy Authority (NREA) has outlined projects to construct two large solar and wind power generation plants. Recent developments for solar and wind energy projects in Egypt The two projects […]
KarmSolar to sell a minority stake to investors via a capital increase
Solar energy company KarmSolar will sell a minority stake to investors via a capital increase as it looks to expand its presence in Egypt and across the region, it said in a statement. The company hopes to raise “a significant amount” in the investment round, KarmSolar CEO Ahmed Zahran told Enterprise, but stopped short of disclosing the target sum […]
KarmSolar, KarmBuild Design ICU Field Hospital to Fight COVID-19
KarmSolar, KarmBuild Design Emergency ICU Field Hospital to Fight COVID-19. Designs published Open-Source. The Re’ayit Misr (Egypt Care) hospital is an emergency ICU field healthcare facility that adds intensive care capacity to strained healthcare infrastructure fighting COVID-19 The hospital is designed to be built in 10-15 days, even off-grid, using readily available and cost-effective materials […]
EDF becomes strategic shareholder in KarmSolar, Egypt’s solar power developer and supplier
EDF Renewables becomes a strategic shareholder of KarmSolar, a developer and supplier of solar power in Egypt. EDF Renewables, the renewable energy subsidiary of EDF Group and KarmSolar, a developer and supplier of solar power in Egypt, are entering into a strategic partnership in the development of distributed solar in Egypt. As part of this partnership, […]
French EDF Renewables reportedly to invest $25 million in KarmSolar
EDF to invest USD 25 million in KarmSolar this year: French energy company EDF Renewables is reportedly in advanced talks to invest as much as USD 25 million in KarmSolar before the end of the year, sources familiar with the matter told the press. An agreement is expected to be officially announced “in days,” the […]
KarmSolar signs EGP 230 million loan agreement with Banque Misr
KarmSolar has signed a EGP 230 mn loan agreement with Banque Misr to build 24 MW solar power plants, CEO Ahmed Zahran told the local press. Zahran did not say how many plants the company will establish with the money. KarmSolar is also in talks with five local and international banks for a EGP 1 […]
KarmSolar, EBRD sign mandate for financing 10MW solar station in Egypt
KarmSolar, EBRD sign mandate letter for financing 10MW solar station under Power Purchase Agreement for Egyptian private off taker. KarmSolar and the European Bank for Reconstruction and Development (EBRD) signed a mandate letter today through which the EBRD will study the financing of a 10MWs solar station of KarmSolar’s Power Purchase Agreements with one of […]
KarmSolar to raise EGP 500 million for first phase of expansion plan
Attijari Finances signs an agreement with KarmSolar to act as Advisor and coordinator for the fastest growing Egyptian solar energy company. KarmSolar, Egypt’s fastest growing solar energy solutions company, has signed an agreement with Attijari Finances to act as KarmSolar’s global advisor and coordinator for the company’s equity fundraising process. This move comes as part […]