United Solar secures $1.6bn financing for Oman polysilicon factory

Type: Financing · Technology: Solar · Country: Oman · Value: $1.6B · Announced: 2026-07-14

United Solar secured a $1.6 billion financing package for its new polysilicon plant in the Sohar Free Zone, Oman, after the International Finance Corporation invested $50 million in equity and provided $480 million of long‑term debt. The financing also includes $400 million of credit lines from unnamed Middle‑East banks and $260 million of equity from the Oman Investment Authority. The plant, which began operating early in 2026 after a 22‑month construction period, is designed to reach an annual output of 100 000 metric tons of polysilicon by the end of 2026, enough to supply roughly 40 GW of photovoltaic modules. The deal aligns with Oman’s diversification strategy, creating thousands of jobs and reducing reliance on oil‑related revenues. IFC structured and mobilised about 30 % of the total capital, positioning the project as a traceable, FEOC‑compliant source for global solar manufacturers. No advisory firms or legal counsel were disclosed in the announcement.

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