OCI to set up solar cell factory in the U.S. to build supply chain away from China - South Korean report

OCI Holdings, the holding company of the South Korean chemical company OCI Group, is building a solar farm on the site of its US subsidiary Mission Solar Energy (MSE).
It has been revealed that the company will build a battery factory in the United States. The company will expand its supply network in the United States. The total investment amount is 265 million dollars (USD, approximately 39.4 billion yen). It will produce 1 gigawatt of batteries from the first half of 2026.
The company will begin production of 1 gigawatt of solar panels in the U.S. and add another gigawatt in the second half of the year, ensuring a total production capacity of more than 2 gigawatts.
Uses TerraSus polysilicon. Creates a solar cell supply chain independent of China. US factory operates at 4% per watt under the Inflation and Recovery Act (IRA).
The company is eligible for the Advanced Manufacturing Production Tax Credit (AMPC) of 10 cents (about 6 yen). Prior to this, the company became the first Korean company to start a solar panel manufacturing business in the United States in 2014.
Over the past 10 years, the company has accumulated experience and know-how in large-scale and diverse solar power projects. The construction of the new solar cell factory will be completed in just 10 days, thanks to cost reductions achieved by utilizing existing land and equipment.
The company's chairman, Lee Woo-Hyun, said, "Starting with this project, we will gradually strengthen the solar value chain in the United States."
He stated: