United Solar Holding announced that its wholly owned subsidiary, United Solar Polysilicon (FZC) SPC (USP), has secured US$480 million in term debt financing from the International Finance Corporation (IFC) and partner banks. In addition, the Company announced that USP has secured more than US$400 million in term debt and working capital facilities from local commercial banks.
Oman Investment Authority’s (OIA) Future Fund Oman has become United Solar’s largest shareholder, with a total investment of approximately US$260 million, reflecting strong sovereign confidence in the company’s growth and long-term strategy. USP is expected to begin polysilicon production in this year. The project is located at Sohar Freezone.
Polysilicon is a critical upstream material in the global solar photovoltaic (PV) value chain. At full capacity, the facility is expected to support the production of approximately 40 gigawatts of solar modules annually. Through this project, USP aims to strengthen the resilience and diversification of the global solar PV supply chain. Polysilicon produced at the facility will be fully traceable, supporting transparency and competitiveness across downstream markets.
Once complete, the $1.6 billion plant, with several investors, will be the Middle East’s largest and only operational polysilicon manufacturing facility, with a planned annual production capacity of 100,000 tons.
