MUSCAT, NOV 8
Oman is poised to establish its first dedicated solar inverter manufacturing facility under a proposed $100 million partnership involving Oman Investment Authority (OIA), Chinese solar technology specialist Hoymiles, PCG Global and Greenwill Asset Management, marking a potentially significant step towards localising the production of advanced renewable energy equipment in the Sultanate.
The initiative, announced in conjunction with His Majesty Sultan Haitham bin Tarik’s recent visit to China, is expected to support Oman’s ambitions to develop a domestic clean energy manufacturing ecosystem while positioning the Sultanate of Oman as a potential production and export hub serving the wider Middle East and North Africa (MENA) region.
The proposed investment, valued at approximately RO 38.45 million, encompasses solar power project development alongside the establishment of an inverter manufacturing facility. Solar inverters are critical components of photovoltaic systems, converting electricity generated by solar panels into usable alternating current for industrial, commercial and residential applications.
Ethan Shi, Sales Head for Central Asia at Hoymiles, described the agreement as a major advance in the company’s regional localisation strategy.
“Hoymiles is taking a major step in localizing manufacturing for the Middle East,” Shi stated in a recent update, highlighting the strategic significance of the agreement with OIA and its investment partners.
He emphasised that the collaboration extends beyond conventional solar project development to encompass distributed solar-plus-storage systems and integrated power solutions for artificial intelligence data centres — an emerging segment requiring increasingly sophisticated and reliable electricity infrastructure.
Hoymiles is an internationally established manufacturer of microinverters, energy storage systems and intelligent power electronics for residential, commercial and utility-scale applications. Founded in 2012 and listed on the Shanghai Stock Exchange’s STAR Market in 2021, the company reports a presence in more than 190 countries and regions, with four manufacturing bases worldwide. Its products have helped establish it among the leading global suppliers of solar microinverter technology.
The partnership also brings together PCG Global, a participant in renewable energy investment and project development, and Greenwill Asset Management, an investment management partner. According to Hoymiles' announcement, the collaboration includes proposed activities spanning distributed solar generation, energy storage, AI data centre power solutions and industrial investment.
“This goes beyond project development,” Shi remarked, underscoring the opportunity to establish manufacturing capacity in Oman capable of supplying regional markets.
The proposed factory could open opportunities for technology transfer, skilled employment, supplier development and the emergence of local enterprises supporting solar equipment manufacturing, testing, installation and maintenance.
It would also complement Oman’s expanding renewable energy programme, while strengthening the Sultanate of Oman’s potential role in regional clean energy supply chains.
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