OCI Holdings has unveiled plans to significantly expand its solar power operations, following a memorandum of understanding (MOU) signed with the Malaysian government at the KL20 Summit 2024 in Kuala Lumpur. This event, Malaysia’s foremost platform for fostering overseas investments, was attended by over 3,000 participants, including Prime Minister Anwar Ibrahim and other prominent leaders.
The MOU positions OCI Holdings to secure a reliable electricity supply essential for ramping up polysilicon production—a key component in solar power generators. This agreement also supports OCI Holdings’ strategy to diversify its operations and strengthen collaboration with the Malaysian government.
In February, OCI Holdings announced its intent to invest about 850 billion won to boost the production capacity of its Malaysian subsidiary, OCIM. The expansion aims to increase annual polysilicon output from 35,000 tons to 56,600 tons by 2027. Currently, OCIM, located in Sarawak, plays a pivotal role in the global solar polysilicon market, catering to a substantial demand across the industry.
This strategic investment underscores OCI Holdings’ commitment to enhancing its renewable energy footprint and capitalizing on Malaysia’s supportive policies for solar energy development. The initiative not only aligns with global sustainability goals but also positions OCI Holdings as a key player in the renewable energy sector’s expansion.
