United Solar starts production at Oman polysilicon plant

United Solar Holding's commencement of production at its polysilicon manufacturing facility in Oman marks a significant step towards establishing a regional solar supply chain. The facility, located in the Sohar Freezone, boasts a planned annual polysilicon capacity of 100,000 metric tons, intended to support the production of up to 40 GW of solar modules annually. Shuangliang Hydrogen supplied green power intelligent hydrogen production systems, indicating a focus on sustainable manufacturing processes. The project secured over $900 million in debt financing from a consortium of international and regional lenders, including the IFC, OPEC Fund, and several prominent banks in the UAE, Kuwait, and Oman. The scale of the project, coupled with the involvement of major financial institutions and technology providers, underscores the growing importance of the Middle East in the global solar energy market. The project's location in Oman, supported by investment from Future Fund Oman and Oman Investment Authority (OIA), suggests a strategic effort to diversify the country's economy and capitalize on the increasing demand for solar energy components. Abu Dhabi Commercial Bank's prior experience in financing large-scale solar projects in the region further validates the viability and attractiveness of such investments.