Arab Finance: Gogreen for Agricultural Investment reviewed progress on its EGP 47.206 million contract, which involves the construction of solar power plants with a total capacity of 6.86 megawatts (MW), according to a bourse filing.
The company plans to install 9,510 solar panels to power its jojoba cultivation operations, supporting its strategy to expand agricultural production, lower operating costs through greater reliance on renewable energy, and boost its environmental sustainability initiatives.
Gogreen has paid EGP 17 million of the project's total value, while the remaining amount is currently being finalized according to the planned schedule.
It also settled an installment of EGP 31 million related to the project land in April 2026, reinforcing its financial position.
As part of its investment plan, Gogreen is developing irrigation infrastructure across the project site to maximize the value of its assets.
At the end of March 2026, the EGX-listed company logged 148.146% year-on-year (YoY) higher net profits at EGP 24.429 million, compared to EGP 9.844 million.
