20-03-2025
OCI Holdings to invest $265m in new Texas production plant
OCI Holdings, a South Korean chemical and renewable energy company, announced Thursday that it will build an independent solar cell production plant at its US subsidiary, Mission Solar Energy, in Texas.
The $265 million facility is set to begin commercial production of 1 gigawatt cells in early 2026, with plans to expand to 2GW by the end of the year.
The initiative aims to strengthen the company's competitiveness in the US market, as US tariff policies against China have raised market uncertainties.
The project will establish a fully independent supply chain using OCI TerraSus polysilicon, which is produced in Malaysia with eco-friendly hydropower and complies with RE100 standards and the Uyghur Forced Labor Prevention Act. With the US facing a 90 percent solar cell supply shortage, OCI's production is expected to meet strong market demand.
The facility will also benefit from Inflation Reduction Act incentives, including a $0.04 per watt Advanced Manufacturing Production Credit and a 10 percent Investment Tax Credit for projects using US-made components.
'This marks the beginning of US-produced solar cells made with OCI TerraSus polysilicon,' said Lee Woo-hyun, chairman of OCI Holdings. 'This project will further strengthen our US solar value chain.'
