United Solar secures IFC financing for Oman polysilicon facility
Financing from the IFC for United Solar’s polysilicon facility in Oman change into as soon as extra elevated earlier this yr with a US$480 million debt financing. With this latest equity investment, the IFC has arranged and mobilised higher than 30% of the final capital raised in United Solar’s polysilicon facility.
In total, United Solar raised close to US$1.6 billion from global investors to full the funding of the ideal operational polysilicon manufacturing facility in the Heart East.
Industrial operations on the 100,000-ton-per-yr polysilicon facility – or the identical of 40GW of annual nameplate skill for modules as soon as fully ramped up – started in January 2026 and are expected to totally ramp up by the tip of the yr.
Binyam Giorgis, Neighborhood CFO of United Solar, mentioned: “With the backing of the World Monetary institution Neighborhood, and on the muse laid by the Oman Funding Authority, we’re handing over world-class, fully traceable polysilicon that tier-one manufacturers need — and doing in listing an FEOC-compliant producer they might be able to rely on as they manufacture resilient, varied provide chains.”
In linked United Solar data, the firm has appointed Todd Templeton as its director of the Americas. This comes because the firm ramps up production and expands its presence in the US.
Templeton previously served as director of the Americas at weak Norwegian ingots and wafers producer NorSun and furthermore served as chief industrial officer at CubicPV and 1366 Technologies.
“Because the US photo voltaic market works to manufacture a more varied photo voltaic provide chain, United Solar is well-positioned to be a prolonged-term partner to manufacturers attempting for a licensed, transparent, and FEOC-compliant provide of polysilicon. I’m inflamed to help extend our partnerships and toughen the persisted boost of the US photo voltaic manufacturing execrable,” mentioned Templeton.
United Solar’s growth in the US market comes as domestic polysilicon provide remains scarce, with only a single producer, Hemlock, with an annual nameplate skill of spherical 20GW for both semiconductors and photo voltaic PV, primarily primarily based on data from PV Tech’s Market Study. This might maybe maybe no longer quilt even half of of the currently operational module nameplate skill in the US, which might maybe well maybe maybe well require module manufacturers to bag supplies begin air the US which can be no longer littered with policy restrictions or tariffs.
