PVTIME – Oman Arab Bank has signed a $200 million financing agreement with United Solar Polysilicon, supporting the development of the company’s polysilicon manufacturing facility in Oman. The signing ceremony took place in Oman on 17 November 2025, and the deal is expected to create job opportunities and strengthen the country’s position as a global hub for trade, logistics, and green energy.
Announced in March 2024, the 100,000-tonne-per-year polysilicon project has attracted $1.6 billion in total investment and is scheduled to commence production in 2025. At full capacity, the plant will meet the polysilicon requirements for 40GW of solar modules annually.
Prior to this, United Solar had secured financing support, including a strategic framework agreement with the World Bank’s International Finance Corporation (IFC) in April 2025. In August, the IFC approved a combined loan and investment of $250 million, comprising a $200 million loan and $50 million in preferred equity. In October 2024, Future Fund Oman also invested 60 million Omani rials in the company.
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