United Solar Holding, a manufacturer of high-purity polysilicon for the global solar PV industry, announced a strategic investment from Future Fund Oman (FFO) – which was launched by the sovereign wealth fund of Oman. And FFO is investing OMR 60 million (equivalent to US$156 million) in United Solar, which is building a state-of-the-art 100,000-ton polysilicon factory in Sohar Port and Freezone, a key player in the global trade network, offering unparalleled access to world markets.
FFO was launched by Oman Investment Authority, the sovereign wealth fund of Oman. FFO comprises a capital totaling OMR 2 billion (equivalent to US$5.2 billion). And FFO offers an array of funding opportunities for investors and partners looking to play a role in enhancing and stimulating Oman’s economic landscape.
KEY QUOTES:
“FFO’s investment in United Solar represents a milestone in Oman’s journey to becoming a key player in the renewable energy manufacturing supply chain. This strategic initiative closely aligns with Oman Vision 2040, which seeks to foster a diversified and resilient economy. United Solar is poised to establish itself as a leading manufacturer of solar products, offering competitive solutions to meet growing global demand. This new facility will enhance Oman’s standing in the renewable energy market and serve as a catalyst for further foreign direct investment (FDI). This project is expected to attract further downstream investments in Oman’s solar manufacturing value chain.”
-Rashid Sultan Al Hashmi, Senior Manager of FFO
“We are delighted to welcome FFO as a strategic investor and partner. We deeply appreciate all the support from the Oman authorities and our industrial partners. Our dedicated team from the global solar industry is committed to building a world-class business and accelerating the transition to a carbon-free world.”
-Longgen Zhang, Founder and Chairman of United Solar
