Oman solar plant secures $850 million to build a state-of-the-art polysilicon manufacturing facility. This development positions Oman as a major player in the global solar supply chain.
United Solar Holding announced the financing package on January 19, 2026, in Muscat. The company raised $480 million in term debt from the International Finance Corporation and partner banks. Additionally, local commercial banks contributed over $400 million in term debt and working capital facilities.
Oman Investment Authority’s Future Fund Oman invested $260 million and became the largest shareholder in United Solar Polysilicon (FZC) SPC. The $1.6 billion facility will begin production in the first quarter of 2026.
The 100,000-metric-tonne plant will become the Middle East’s largest polysilicon manufacturer. Consequently, it will support around 40 gigawatts of solar module production annually. Furthermore, the facility will produce polysilicon that meets international standards, including US Foreign Entity of Concern requirements, ensuring global market access.
Mulham al Jarf, Deputy President for Investment at OIA, said the financial close demonstrates strong international confidence in Oman. He added that the project will create jobs, support SMEs, and attract additional renewable energy investments.
Sam Zhang, Founder and Chairman of United Solar, described the milestone as pivotal. He noted that the project strengthens the global solar supply chain and delivers high-quality, traceable polysilicon to manufacturers worldwide.
Group CFO and Board Director Binyam Girogis highlighted that over 80 percent of the capital comes from Omani institutions, regional banks, and IFC. He said the diverse participation reinforces Oman’s appeal for long-term industrial investments.
IFC Regional Industry Head Ashruf Megahed stated that the project will expand Oman’s industrial base and export capacity. He added that it contributes to economic diversification and strengthens the country’s role in clean energy production.
Moreover, Megahed explained that IFC participation improves the project’s bankability for international investors. He said IFC helped design a green framework essential for supplying traceable polysilicon to global markets.
According to IFC, global renewable energy capacity must exceed 1,100 gigawatts annually. Therefore, Oman solar plant plays a crucial role in diversifying and reinforcing global clean energy supply chains.
The initiative underlines Oman’s ambition to lead regional renewable energy production. It also demonstrates strong collaboration among local authorities, international financial institutions, and private investors.
Additionally, the project will attract further foreign investment and create training opportunities for Omani professionals. These efforts will develop a skilled workforce in the renewable energy sector.
Finally, the facility will encourage additional upstream and downstream projects, including solar cell and module production. As a result, Oman will strengthen its position as a central hub in the regional solar energy market.
