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# KarmSolar secures $2.4 million to expand its microgrid solution in Egypt
- URL: https://www.techloy.com/karmsolar-secures-2-4-million-funding-from-qnb-alahli/
- Published: 2022-10-24T18:35:10.000Z
- Updated: 2022-10-24T18:35:10.000Z
- Author: Acquah Nana Yeboah
- Tags: CleanTech, Egypt

Egyptian cleantech company, KarmSolar has secured $2.4 million in funding from Qatar National Bank ALAHLI (QNB ALAHLI) to expand the Phase 2 of its existing solar microgrid solution in Egypt.

- Founded in 2011 by Ahmed Zahran, Omar Hosny and Tamer Essawy, KarmSolar is a leading solar energy company and multi-utility enterprise that provides renewable energy to several sectors in Egypt.
- The new funding will be used to finance the solar Power Purchase Agreement (PPA) battery storage system in Egypt. This is part of the Phase 2 expansion of KarmSolar’s existing solar microgrid solution for the Cairo 3A poultry farm facility in the Bahareya Oasis in Giza, Egypt.
- In Phase 1, KarmSolar signed a PPA agreement with Cairo 3A in 2020 to establish an on-site off-grid solar station to supply electricity to the poultry farm using a hybrid microgrid of PV solar and diesel generators. The original on-site solar PV station covers 30% of Cairo 3A’s energy needs using renewable energy.
- This upgrade has managed to increase the percentage of energy consumption generated through solar significantly, thereby increasing the project’s PV share to 50%. With industry averages tending to be around 30%, this project is considered to be a state-of-the-art renewable energy project and innovation.