OCI Holdings plans to double polysilicon production capacity by 2029

OCI Holdings, a South Korean chemicals company, plans to double its yearly production of polysilicon — a raw material used to make solar panels — from 35,000 to 70,000 metric tons by 2029. The company says the expansion is driven by demand tied to US artificial intelligence data centers and the space industry, both of which need reliable power and are turning to solar. OCI has also been in talks with SpaceX about a long-term polysilicon supply deal.

Part of this involves building a solar supply chain meant to avoid restricted foreign suppliers when materials reach the US. OCI is linking its Malaysian polysilicon plant with a wafer factory in Vietnam run by NeoSilicon Technology, a company OCI now majority-owns. That Vietnam factory is set to grow sharply, from about 2.7 gigawatts of production capacity today to 11.5 gigawatts by 2029, with shipments to the US market expected to start next year. OCI has separately secured a $125 million loan from the International Finance Corporation to build a semiconductor-grade polysilicon plant in Malaysia.

None of this changes what solar panels cost or which brands are available on your roof right away, but it points to more solar manufacturing capacity aimed at the US market in the next few years, built through supply chains designed to meet US rules on sourcing. If you're weighing solar for your home, this is a sign of expanding supply upstream rather than a direct change to today's pricing or incentives.