PVTIME – Polysilicon manufacturer United Solar has secured a $50 million equity investment from the International Finance Corporation (IFC), which is part of the World Bank Group. The investment will fund the construction of a polysilicon production complex in Oman. This investment was agreed almost a year ago, alongside a USD 200 million loan facility from the IFC.
Picture: United Solar Polysilicon
Earlier this year, the IFC provided the facility with further financial support in the form of an additional USD 480 million debt package. Combined, IFC’s investments make up over 30% of the project’s total financing. United Solar has raised close to USD 1.6 billion from global investors, providing full funding for the largest active polysilicon site in the Middle East.
Launched in January 2026, the plant has an annual polysilicon output of 100,000 tonnes, which matches 40GW of yearly solar module nameplate capacity. Full maximum production is scheduled to be achieved by the end of this year.
Group Chief Financial Officer Binyam Giorgis said that finance and foundational backing from the World Bank Group and the Oman Investment Authority allow the firm to supply fully traceable, premium-quality polysilicon to leading PV manufacturers. He confirmed that all production meets FEOC compliance standards and supports customers in developing robust and varied supply chains.
United Solar has also appointed Todd Templeton as Head of the Americas to increase production and expand its presence in the US market. Templeton has extensive experience in the solar sector, having previously led operations in the Americas at the silicon ingot and wafer firm NorSun, as well as serving as Chief Commercial Officer at CubicPV and 1366 Technologies.
He commented that the US is building a more varied domestic PV supply chain and that United Solar is well placed to act as a long-term, FEOC-compliant polysilicon supplier for national module manufacturers, offering clear material traceability. He intends to expand industry partnerships to promote US domestic solar manufacturing.
Independent market research indicates acute shortages of polysilicon across the United States. Hemlock is the only local polysilicon producer, with combined annual semiconductor and solar-grade capacity of 20GW. This covers less than half of the country’s existing operational PV module capacity. Consequently, domestic manufacturers are required to source tariff-free polysilicon from international suppliers.
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