ewpartners, an international investment firm, has invested in United Solar Holding, a leading company in the energy transition sector.

This marks ewpartners’ first investment in the energy transition sector, with a tens of millions of dollars investment in United Solar’s 100,000-ton polysilicon plant located in the Sohar Port Free Zone in Oman. The project is planned with a total investment of $1.5 billion.

This investment marks the second investment of its Technology Innovation Fund II, following a $50 million commitment to Lenovo’s supply chain business, Leshines, in November.

Cliff Chau, Managing Partner at ewpartners, commented: "The market potential for green energy in the Middle East is significant. As the region looks to diversify its economies away from oil and gas dependency, major initiatives like the Red Sea Project, the UAE Energy Strategy 2050, and Oman’s Ibri II Solar Project target cities and projects run entirely on renewable energy. Solar power promises substantial growth opportunities for investors given these ambitions and the region’s abundance of sunlight. Technological advancements such as energy storage solutions and grid modernisation accelerate this shift further."

He added, "ewpartners has successfully created and invested in businesses across the Middle East since 2017. We support industries which are critical to the economic diversification of the region and have created market leaders in the fields of logistics and digital infrastructure, such as Saudi Cloud Computing Company (SCCC) and J&T Express. Now, we turn our attention also to the energy transition sector so that we can help drive the Middle East’s commitment to delivering a sustainable future based on the energy transition. We’re delighted to make this investment, and we look forward to more to come."