United Solar, a polysilicon manufacturer for the solar industry, has completed the financial close of a previously announced $50 million equity investment from the International Finance Corporation (IFC), the private sector arm of the World Bank Group. The company said the transaction completes its $1.6 billion capital raise from a consortium of global investors.

The financing supports United Solar’s polysilicon manufacturing facility in Oman’s Sohar Free Zone. The company said the plant began operations in January of this year and is expected to reach an annual production capacity of 100,000 metric tons by the end of 2026. United Solar said the facility produces high-purity polysilicon, a key raw material used in the solar photovoltaic manufacturing supply chain.

According to the company, IFC arranged and mobilized more than 30% of the plant’s total capital raised. The financial close follows an anchor equity investment by the Oman Investment Authority through Future Fund Oman. United Solar said the IFC investment completes the plant’s capital structure.

The company also added that its production complies with Foreign Entity of Concern requirements. According to United Solar, the facility’s location in Oman and the Oman Investment Authority’s status as its largest shareholder provide customers with a traceable polysilicon supply intended to support supply chain diversification.

“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.”

At full production capacity, the company expects the facility to produce enough polysilicon for approximately 40 GW of solar modules annually. The company also said the project is expected to create nearly 3,000 direct and indirect jobs and contribute to Oman’s economic diversification efforts.

Previously, in January 2026, the company’s wholly owned subsidiary, United Solar Polysilicon (FZC) SPC, secured $480 million in term debt financing from the IFC and partner banks.

Global VC funding for the solar sector in Q1 2026 came to $1.1 billion in 17 deals, a 21% decrease YoY compared to $1.4 billion raised in 14 deals in Q1 2025, according to Mercom’s Q1 2026 Solar Funding and M&A report. Funding increased 74% QoQ compared to the $606 million raised in 20 deals in Q4 2025.

In 2026, HELIUP, a solar photovoltaic module manufacturer for the large rooftops of commercial and industrial buildings, closed a €16 million (~$19 million) funding round.