Karm, an Egypt-based renewable energy developer focusing on solar, storage, and e-mobility solutions, has expanded its operations internationally through the establishment of KarmCyprus. KarmCyprus has been created to develop and operate a 7.6 MW solar PV project in Monagroulli, southern Cyprus, which is licensed and expected to commence operations by September 2026. According to Karm, the project has secured €5 million (~ $5.75 million) in financing from Eurobank, along with €2 million (~ $2.3 million) in equity investment. Karm has also raised an additional €8 million (~ $9.2 million) from Egyptian and international investors to support the subsidiary’s setup and future expansion. KarmCyprus has adopted Karm’s vertically integrated model that includes power generation, distribution, storage, and e-mobility operations. CEO Ahmed Zahran has stated that the expansion is intended to diversify revenue streams into hard currencies and strengthen regional leadership.