OCI Holdings plans to invest $265 million (approximately 384 billion won) to build a solar cell production facility at its existing US subsidiary, Mission Solar Energy. The Korean company announced Thursday that commercial production of 1 gigawatt (GW) of solar cells is expected to begin in the first half of 2026, with capacity doubling to 2GW by the second half of that year.
The investment comes as the US solar industry faces a significant domestic manufacturing shortfall, with current cell production capacity, including ongoing projects, falling approximately 90% short of demand, according to Bloomberg.
The new facility will help establish a non-Chinese solar supply chain, connecting polysilicon from OCI’s Malaysian subsidiary OCI Terras to the US-made cells. This arrangement complies with the Uyghur Forced Labor Prevention Act and qualifies for incentives under the Inflation Reduction Act, including a 4 cents per watt manufacturing credit.
OCI accelerated its timeline following increased trade tensions with China after Donald Trump’s election. The company expects to begin production more than a year ahead of competitors by utilizing existing sites and permits.
OCI Holdings Chairman Lee Woo-hyun described the project as the beginning of a “clean supply chain” that will gradually strengthen the company’s solar value chain in the United States.
