The facility is expected to begin production of polysilicon this year. Polysilicon is a critical material in the global solar photovoltaic (PV) value chain. Polysilicon produced at the facility will be fully traceable and will create employment opportunities for Omanies, supporting SMEs and establish a platform for future initiatives and renewable energy integration.
“The successful financial close reflects a strong team effort, supported by the Omani government’s agility, international confidence in Oman’s economy, OIA as the largest shareholder, and United Solar Polysilicon’s ability to deliver a world-class project aligned with the global energy transition” said HE Mulham Al Jarf, OIA’s Deputy President for Investment. “We extend our gratitude to the national negotiation team for the agility that expedited executing this mega project in record time.”
Once complete, the $1.6 billion plant will be the Middle East’s largest operational polysilicon manufacturing facility, with a planned annual production capacity of 100,000 tons.
Globally, about 1,100 gigawatts of new renewable capacity must be added each year, more than double the current expansion rate. Yet renewable energy growth remains concentrated in advanced economies, leaving the vast majority of developing countries behind despite significant economic and development needs, according to a 2024 IFC report.
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