Egyptian Energy Startup KarmSolar Announces New Round

KarmSolar, Egypt’s leading private power utility and solar energy company, has raised a new round of capital to fund its local and regional expansion plans. The new investment round is supported by US-based Synergy Consulting as the sell-side advisor and will be used to support existing power generation and distribution businesses and enable new verticals such as solar water desalination solutions provider KarmWater and electric mobility venture KarmCharge to flourish.

KarmSolar aims to spearhead the growth of the private solar energy market in Egypt through the introduction of innovative and integrated solutions across the industrial, agricultural, commercial, and tourism sectors.