• ewpartners has entered energy transition sector with tens of millions dollar investment in United Solar’s 100,000-ton polysilicon plant located in the Sohar Port Free Zone in Oman. The project is planned with an investment of 1.6 billion USD.
• The MENA region holds the world’s largest solar energy resources, positioning it as a leading contender for the solar PV market. With a shift away from oil and gas, the region's green energy market is rapidly expanding.
• As a forward-looking investor, ewpartners is driving regional economic transformation with targeted investments in energy transition related supply-chains and related technologies, solidifying its presence across key MENA markets.
• The United Solar project is a cornerstone of this vision, paving the way for a more sustainable future.

Riyadh, 5 December 2024 – ewpartners (formerly eWTP Arabia Capital), the first international investment firm to establish a MENA-Asia cross-border platform, has entered the energy transition sector with a strategic investment in United Solar Holding Inc., a leading company in the sector. This marks ewpartners’ first investment in the energy transition sector, with a tens of millions of USD 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 1.6 billion USD.

ewpartners is expanding its investment focus to include energy transition and related supply chains, following its success in sectors like digital infrastructure and logistics.

According to the International Energy Agency (IEA), global renewable energy investments is expected to reach $1.3 trillion by 2030, with solar and wind energy leading the way. Countries such as Saudi Arabia, the UAE, and Oman are driving energy transitions, reducing oil and gas dependence, and promoting sustainable development. These efforts are rapidly growing the region’s renewable energy market, positioning it as one of the most promising globally.

As a forward-looking investor, ewpartners is driving regional economic transformation with targeted investments in energy transition supply-chains and related technologies, solidifying its presence across key MENA markets. The United Solar project is a cornerstone of this vision, paving the way for future investments in this sector.

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. The commitment to supporting emerging projects with significant potential to transform the region underscores ewpartners' dedication to accelerating the green energy transition.

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 modernization 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.”

About ewpartners

ewpartners (formerly eWTP Arabia Capital) is an international investment firm specialising in cross-border investments between Asia and the MENA region. Backed by the Public Investment Fund (PIF), the firm has been active in Saudi Arabia since 2017 and was the first investment firm to launch a cross-border platform between the Kingdom and China.

Headquartered in Riyadh, ewpartners focuses on building value across borders by establishing strategic partnerships with exceptional companies. Our team's expertise in shaping innovative conducive policy frameworks can support governments in fostering economic transformation and diversification driven by innovation and technology.

ewpartners is committed to investing in, supporting, and growing successful businesses across the Asia and MENA regions, with a focus on key industries and themes such as digital infrastructure & solutions, advanced manufacturing & energy transition, and logistics & consumer enablement.

About United Solar Holding Inc.

United Solar Holding Inc. ("United Solar" or the "Company") is a global solar manufacturing company. Starting in 2023 with global solar industry veterans, the Company is constructing a polysilicon factory in the SOHAR Port and Freezone. With an annual production capacity of 100,000 tons, this facility will be the largest single-unit plant in the world and the first of its kind in the Middle East. The US$1.6 billion landmark project is slated to commence operations in 2025.

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https://ewpartners.fund/

Media Contact: Vivian@ewpartners.fund