CENTRAL NEW EGY and EGN sign a memorandum to develop a photovoltaic power station and build component production capacity in Oman
CENTRAL NEW EGY signed a memorandum of understanding with EGN LTD, planning to invest in photovoltaic power station projects in Oman and establish photovoltaic module production capacity. The cooperation is based on the principles of equality and mutual benefit, aiming to establish a long-term strategic partnership, promote green energy strategies, expand business opportunities and revenue sources, and enhance financial performance. The board believes that this cooperation is beneficial for the company's future development and shareholder interests
According to the announcement from Zhonghuan New Energy (01735), on August 25, 2025, EGN LTD (EGN) entered into a memorandum of understanding with the company. According to this memorandum, the parties to the memorandum intend to invest in photovoltaic power station projects in Oman and establish photovoltaic module production capacity locally. The cooperation will be based on the principles of equality, mutual benefit, industrial synergy, and coordinated development, aiming to establish a long-term and stable strategic partnership for mutual growth and shared success.
The announcement states that the cooperation under the memorandum will help the group expand its green energy strategy and leverage its experience and capabilities in the development and operation of photovoltaic power station projects. The board also believes that this proposed cooperation will expand the group's business opportunities, broaden its sources of income, and enhance its financial performance. Therefore, the board considers the proposed cooperation with EGN to be beneficial for the group's future development and in the overall interest of the company and its shareholders
