Funding boost for Oman polysilicon project’s parent company

MUSCAT: Ahead of the start of trial production at its landmark US$1.6 billion polysilicon complex in Sohar Freezone, United Solar Polysilicon’s parent, United Solar Holding Inc, has secured a US$30 million strategic investment from Waaree Solar Americas, the US subsidiary of Waaree Energies, one of India’s largest solar energy companies.
In a statement, Waaree Solar Americas said the investment will be made through the subscription of approximately 5.37 million Series B preferred shares in United Solar, with the transaction expected to close by January 31, 2026. The investment is underpinned by a long-term polysilicon offtake agreement, aimed at securing a fully traceable, reliable and diversified polysilicon supply chain to support Waaree’s expanding solar manufacturing operations globally, with particular emphasis on the US market.
The announcement is significant for the Sohar polysilicon project, which represents the flagship investment of United Solar Holding Inc, a Cayman Islands-based polysilicon producer. Currently being prepared for trial operations, the facility is designed to produce 100,000 metric tonnes of polysilicon annually, sufficient to support approximately 40 GW of solar module manufacturing per year. Once fully operational, the project is expected to position United Solar among the world’s largest and most cost-competitive polysilicon producers.
“This strategic investment in United Solar is a decisive step in strengthening Waaree’s long-term, secure and fully traceable polysilicon supply chain to support our rapidly expanding USA and global manufacturing footprint,” said Hitesh C Doshi, Chairman and Managing Director of Waaree Group. “Access to reliable, cost-competitive and geopolitically diversified upstream materials is critical to delivering certainty to our customers and partners. United Solar’s world-class polysilicon facility in Oman represents a credible and resilient alternative aligned with our commitment to supply chain transparency, energy security and sustainable growth.”
Sam Zhang, Chairman of United Solar Holding Inc, said: “We are proud to have Waaree, one of the world’s leading solar manufacturers, as both an investor and customer. This partnership underscores United Solar’s unique position in the polysilicon industry and Waaree’s commitment to supporting reliable polysilicon sources while contributing to a more secure and diversified global solar supply chain.”
In recent weeks, the Sohar site has hosted a series of high-level visits as stakeholders work to ensure a smooth and timely start-up. Notably, senior officials from Oman Electricity Transmission Company (OETC) inspected the project and its associated 400 kV grid station, built in the Sohar Free Zone to connect the facility to Oman’s Main Interconnected System (MIS) and provide stable, high-capacity power supply for current operations and future expansion.
At the plant, United Solar Polysilicon (USP) will convert metallurgical-grade silicon (MG-Si) into high-purity polysilicon rods, the primary feedstock for solar cell manufacturing. A dedicated on-site facility will crush the rods for casting into multicrystalline ingots, which are subsequently sliced into wafers. MG-Si preparation will also take place on site, with chlorosilanes sourced locally from an Omani chlor-alkali producer, while MG-Si will be imported primarily from Malaysia, where it is produced from quartzite and charcoal.
The production process integrates multiple advanced stages, including hydrogen generation, purification, distillation, chemical vapour deposition (CVD), and gas recovery. Polysilicon rods are crushed into smaller fragments and, where required, cleaned using controlled acid washes to remove surface impurities. Extensive recycling of gases and liquids is a core feature of the facility, with any residual effluents treated to meet stringent environmental standards. Leveraging first-of-its-kind technologies and AI-driven automation, the Sohar plant is designed to deliver higher efficiency, lower costs and superior environmental performance compared with conventional polysilicon facilities.