United Solar Secures Over US$900 Million For Oman Polysilicon Manufacturing Facility

United Solar Holding Inc. has secured more than US$900 million in financing to complete funding for its large polysilicon manufacturing facility in Oman, marking a major step for the global solar supply chain. The company said its wholly owned subsidiary, United Solar Polysilicon (FZC) SPC, raised US$480 million in long-term debt from the International Finance Corporation and partner banks. In addition, more than US$400 million was arranged through term debt and working capital facilities from local commercial banks led by Sohar International Bank.

Alongside the debt financing, Oman Investment Authority’s Future Fund Oman has become United Solar’s largest shareholder with an investment of around US$260 million. This investment reflects strong support from the Omani government and confidence in the company’s long-term plans. The polysilicon plant is expected to start production later this year.

Polysilicon is a key raw material used to make solar cells and modules. Once the plant reaches full capacity, it is expected to support the production of nearly 40 gigawatts of solar modules every year. United Solar said the project will help diversify and strengthen the global solar PV supply chain. All polysilicon produced at the facility will be fully traceable, which is becoming increasingly important for transparency and competitiveness in international markets.

Officials from the Oman Investment Authority highlighted that the project shows strong coordination between the government, international partners, and investors. They said the facility will create jobs for Omani nationals, support small and medium enterprises, and open the door for future upstream and downstream renewable energy projects in the country.

United Solar’s leadership described the financial close as a major milestone for both the company and the global solar industry. The company said the participation of international and regional lenders shows confidence in the project’s quality, governance, and commercial potential. More than 80 percent of the total capital has been provided by Omani institutions, regional banks, and the IFC.

Once completed, the US$1.6 billion plant will be the Middle East’s largest and only operational polysilicon manufacturing facility, with a planned annual capacity of 100,000 tons. The project comes at a time when global renewable energy capacity needs to grow rapidly, as developing countries continue to face gaps in clean energy investment despite rising demand.