US headquartered International Finance Corporation is a part of the World Bank Group has announced an investment to support United Solar Polysilicon (FZC) SPC in financing a greenfield polysilicon plant at Sohar Freezone in Oman. The project is backed by Oman Investment Authority, with participation from the OPEC Fund. The IFC-led financing supported the development of a polysilicon facility with a planned annual capacity of 100,000 tons. At full capacity, the plant is expected to enable the production of up to 40 GW of solar modules per year, an output estimated to supply electricity to around 12 million homes. The project is also expected to contribute to the avoidance of about 8.8 million tons of greenhouse gas emissions annually. In addition, the facility is projected to create nearly 3,000 direct and indirect jobs. It is also expected to expand polysilicon manufacturing, attract foreign investment and supply fully traceable polysilicon to the global solar PV value chain.

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