Oman’s United Solar Polysilicon on 11 March began work on a $1.3bn plan to produce 100,000 t/y of polysilicon at Sohar by 2025. This may prove optimistic, with the bulk of the plant’s funding yet to be raised: $160mn was secured in a first funding round last September, with the firm adding that a further $300mn is expected to be secured this month and that a US IPO is slated for 2025 or 2026.
Polysilicon is the key raw material for the production of solar panels, enabling the Omani economy to capitalize on booming local demand. Oman has sought to localize the production of key components for its future energy sectors, including a deal with Siemens late last year for an electrolyzer manufacturing facility (MEES, 15 December 2023). Abdulaziz al-Shidhani, MD of state green hydrogen promoter Hydrom, highlights “the likelihood of supply constraints when it comes to solar panels, wind turbines and electrolyzers, given the scale of projects we have in the country.” (CONTINUED - 159 WORDS)