United Solar Secures IFC's Backing for FEOC-Compliant Polysilicon, Completing $1.6 Billion Capital Raise

• The World Bank Group's International Finance Corporation's ("IFC") $50 million equity investment represents the final tranche of the approximately $1.6 billion raised from global investors to complete the funding of the Middle East's largest polysilicon manufacturing facility.
  
  
• IFC has now arranged and mobilized more than 30% of the total capital raised, a strong endorsement of United Solar's operating and commercial sustainability and its adherence to the highest international standards.
  
  
• The investment reinforces United Solar's position as FEOC-compliant supplier of fully traceable, high-purity polysilicon to the world's tier-one solar manufacturers.

SOHAR, Oman, July 6, 2026 /PRNewswire/ -- United Solar today announced the financial close of its previously announced $50 million equity investment from IFC, the private sector arm of the World Bank Group. The financial close completes the company's $1.6 billion capital raise from a consortium of global investors.

United Solar's state-of-the-art 100,000-ton-per-year polysilicon facility in Oman's Sohar Free Zone began operations in January 2026 and is expected to ramp up to 100kT by the end of 2026. The plant represents the world's most advanced polysilicon production facilities, the foundational material for the global solar photovoltaic (PV) value chain.

With this close, IFC has arranged and mobilized more than 30% of the total capital raised for the project. The direct equity commitment from IFC represents United Solar's governance, environmental and social standards, traceability, and long-term commercial viability — the benchmarks that customers and regulators increasingly demand of polysilicon suppliers.

Critically for buyers in the United States and other advanced markets, United Solar is a FEOC-compliant producer of high-purity polysilicon. With production in Oman and the Oman Investment Authority (OIA) as its single-largest shareholder, United Solar provides tier-one cell and module manufacturers with a fully traceable supply—one that supports eligibility for clean-energy incentives and the diversified, resilient supply chains the industry is racing to secure.

The close builds on OIA's anchor equity investment through its Future Fund Oman, which signaled strong sovereign confidence in United Solar. IFC's commitment now completes a capital structure that has drawn leading global institutions to the company.

At full capacity, the facility is expected to enable the production of approximately 40 gigawatts of solar modules annually, enough to power up to 12 million homes, while avoiding an estimated 8.8 million tons of greenhouse gas emissions each year. The plant is set to create nearly 3,000 direct and indirect jobs and advance Oman's economic diversification agenda.

"The closing of IFC's investment completes our approximately $1.6 billion capital raise and is a powerful endorsement of United Solar's standards, governance, and long-term commercial strength," said Binyam Giorgis, Group CFO of United Solar. "With the backing of the World Bank Group, and on the foundation laid by the Oman Investment Authority, we are delivering world-class, fully traceable polysilicon that tier-one manufacturers need — and doing so as an FEOC-compliant producer they can rely on as they build resilient, diversified supply chains."

"This equity investment completes our landmark support for the Middle East's largest and only operational polysilicon manufacturing facility," said Ulyana Dovbush, IFC's Regional Industry Manager for the Manufacturing, Agribusiness, and Services in the Middle East, Pakistan, and Afghanistan. "Aligned with Oman's vision, this investment will help create thousands of jobs, attract foreign direct investment, accelerate economic diversification, and strengthen the role of the private sector in driving sustainable growth beyond oil."

About United Solar
United Solar is a leading producer of high-purity polysilicon — the essential material used in the manufacture of solar panels — operating one of the world's most advanced polysilicon manufacturing facilities in Oman. The company uses cutting-edge processes and modular plant design to deliver cost-competitive polysilicon at scale, while meeting rigorous international standards for quality, traceability, and environmental responsibility. United Solar is committed to building a secure, resilient, and globally competitive solar supply chain.

Media Contacts
United Solar Media Relations
Jessi Zhang
Secretary of the Board
[email protected]

SOURCE United Solar Holding Inc.