United Solar Holding, a manufacturer of polysilicon for solar photovoltaic (PV) industry, has received investment from Future Fund Oman (FFO), launched by Oman’s sovereign wealth fund.
FFO is investing OMR 60 million (approximately $156 million) to support the construction of polysilicon manufacturing facility in Sohar Port and Freezone. This facility, with a production capacity of 100,000 tons, is set to become the largest single-unit polysilicon plant in the world.
Oman, as part of its Vision 2040 initiative, aims to diversify the nation’s economy and solidify its position as a key player in the global renewable energy supply chain. FFO, managed by the Oman Investment Authority, has a capital base of OMR 2 billion ($5.2 billion) to support investments.
The $1.6 billion polysilicon factory, expected to begin operations in 2025, will place United Solar at the forefront of solar manufacturing globally. The facility will supply high-purity polysilicon, a critical component in solar panels, and create opportunities for downstream investments in Oman’s growing solar energy value chain.
