{"id":548995,"date":"2022-08-30T04:00:48","date_gmt":"2022-08-30T04:00:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/karmsolar-is-looking-for-investors\/"},"modified":"2022-08-30T04:00:48","modified_gmt":"2022-08-30T04:00:48","slug":"karmsolar-is-looking-for-investors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/karmsolar-is-looking-for-investors\/","title":{"rendered":"KarmSolar is looking for investors"},"content":{"rendered":"<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> <strong>Solar energy company KarmSolar will sell a minority stake to investors via a <\/strong><strong>capital increase <\/strong>as it looks to expand its presence in Egypt and across the region, it said in <a href=\"https:\/\/ent.news\/2022\/8\/KarmSolar-minority-stake-round-EN.pdf\">a<\/a><a href=\"https:\/\/ent.news\/2022\/8\/KarmSolar-minority-stake-round-EN.pdf\">statement (<\/a><a href=\"https:\/\/ent.news\/2022\/8\/KarmSolar-minority-stake-round-EN.pdf\">pdf<\/a><a href=\"https:\/\/ent.news\/2022\/8\/KarmSolar-minority-stake-round-EN.pdf\">)<\/a> yesterday. The company hopes to raise \u201ca significant amount\u201d in the investment round, KarmSolar CEO Ahmed Zahran told Enterprise, but stopped short of disclosing the target sum or how much equity will be on offer.<\/p>\n<p><strong>The details: <\/strong>The round should take three to six months to close, Zahran said, adding that the company has already registered interest from European, Asian and American investors. KarmSolar has tapped US-based Synergy Consulting to advise on the transaction.<\/p>\n<p><strong>The capital injection will help grow the company\u2019s existing power generation and distribution business<\/strong> and allow it to push into new markets in the region, Zahran said, without naming any specific countries. Funding will also be directed to its solar-powered desalination firm <a href=\"https:\/\/www.karmsolar.com\/news\/karmwater-solar-powered-water-desalination-solutions\">KarmWater<\/a>, he added.<\/p>\n<p><strong>EV charging firm in the works:<\/strong> Part of the capital increase will go towards a new EV charging venture, KarmCharge, that the company hopes to launch early next year, Zahran said.<\/p>\n<p><strong>The stake sale is part of a five-year IPO plan:<\/strong> \u201cWe\u2019ve initiated this round of investment, to bring more partners into the company in preparation for a potential IPO, hopefully in five years time,\u201d Zahran added.<\/p>\n<p><strong>About KarmSolar: <\/strong>Including secured and financed projects that are yet to come online, the company holds a portfolio of 42 MW of renewables plants, and 48 MVA of distribution capacity in the industrial, commercial, agricultural, and tourism sectors. The Financial Times in May named KarmSolar Africa\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/312a2a58-3bb8-4cc7-88c7-8a6c48329521\">19th fastest-growing firm<\/a> after more than tripling its revenues between 2017 and 2020, making it the second-fastest growing energy company on the continent. France\u2019s EDF Renewables <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/26\/edf-acquires-undisclosed-stake-in-egyptian-renewables-company-karmsolar-7046\/\">bought an undisclosed \u201cstrategic stake\u201d<\/a> in the company through a capital increase back in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 astatement (pdf) yesterday. The company hopes to raise \u201ca significant amount\u201d in the investment round, KarmSolar CEO Ahmed Zahran told Enterprise, but stopped short [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":548996,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[93,72,1868,7128,151,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-energy","tag-enterpriseam","tag-karmsolar","tag-ma-watch","tag-renewables","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"dbf3ade3-520a-479d-b4fa-6512b2910b9d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/436.jpg","photo_position":"above","related_issue":[548987],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>KarmSolar is looking for investors - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/karmsolar-is-looking-for-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KarmSolar is looking for investors\" \/>\n<meta property=\"og:description\" content=\"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 astatement (pdf) yesterday. The company hopes to raise \u201ca significant amount\u201d in the investment round, KarmSolar CEO Ahmed Zahran told Enterprise, but stopped short [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/karmsolar-is-looking-for-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-30T04:00:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/436.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/karmsolar-is-looking-for-investors\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/karmsolar-is-looking-for-investors\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"KarmSolar is looking for investors\",\"datePublished\":\"2022-08-30T04:00:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/karmsolar-is-looking-for-investors\/\"},\"wordCount\":311,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/karmsolar-is-looking-for-investors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/436.jpg?fit=%2C&ssl=1\",\"keywords\":[\"energy\",\"EnterpriseAM\",\"KarmSolar\",\"M&amp;A Watch\",\"renewables\",\"Startup watch\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/karmsolar-is-looking-for-investors\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/30\/karmsolar-is-looking-for-investors\/\",\"name\":\"KarmSolar is looking for investors - 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The company will supplying the power from the USD 80 mn worth of solar power plants it is constructing with a combined capacity of 70 MW, CEO Ahmed Zahran said.","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638327,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/02\/karmsolar-signs-usd-23-mn-agreement-with-dakahlia-group\/","url_meta":{"origin":548995,"position":2},"title":"KarmSolar signs USD 23 mn agreement with Dakahlia Group","author":"enterpriseam admin","date":"2 October 2017","format":false,"excerpt":"KarmSolar announced signing a USD 23 mn agreement to build solar stations for Dakahlia Group subsidiaries Dakahlia South Valley Poultry and Dakahlia Wadi El Natroun Agriculture. The agreement will provide the companies with 23.5 MW of energy, equivalent to 75% of their energy needs over 30 years through two stations\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592684,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/edf-to-invest-usd-25-mn-in-karmsolar-this-year\/","url_meta":{"origin":548995,"position":3},"title":"EDF to invest USD 25 mn in KarmSolar this year","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"M&A WATCH- EDF to invest USD 25 mn in KarmSolar this year: French energy company EDF Renewables is reportedly in advanced talks to invest as much as USD 25 mn in KarmSolar before the end of the year, sources familiar with the matter told the press. An agreement is expected\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/12\/459.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593884,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/13\/karmsolar-signs-egp-230-mn-loan-agreement-with-banque-misr\/","url_meta":{"origin":548995,"position":4},"title":"KarmSolar signs EGP 230 mn loan agreement with Banque Misr","author":"enterpriseam admin","date":"13 October 2019","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623434,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/30\/ebrd-to-help-karmsolar-raise-financing-for-10-mw-solar-power-station\/","url_meta":{"origin":548995,"position":5},"title":"EBRD to help KarmSolar raise financing for 10 MW solar power station","author":"enterpriseam admin","date":"30 October 2018","format":false,"excerpt":"The European Bank for Reconstruction and Development (EBRD) will be helping KarmSolar raise financing for a 10 MW solar power station that it\u2019s building for a \u201cprominent client,\u201d KarmSolar announced in a press release yesterday (pdf). The company signed a mandate letter with the EBRD for the funding that will\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548995"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548995\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548996"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548995"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548995"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}