Chinese solar technology firm Hoymiles has signed a strategic cooperation framework and terms of intent in Beijing with the Oman Investment Authority, PCG Global, and Greenway Asset Management. The agreement involves approximately $100 million (38.45 million Omani riyals) aimed at establishing a solar inverter manufacturing base in Oman, according to Seetao.
Under the framework, the Oman Investment Authority will serve as the cornerstone investor and government coordinator, while Hoymiles is slated to supply technology, products, and manufacturing solutions. PCG Global is tasked with developing and operating power stations and AI data center projects, with Greenway Asset Management acting as fund manager.
The initiative consists of two independent tracks. The first is the Oman New Energy Ecological Cooperation Fund, established to back distributed photovoltaics, energy storage, and AI data centers. The second track focuses on the inverter production base, which is intended to address Oman's and the wider Middle East and North Africa region's historical reliance on imported inverters.
The source noted that the signing represents an intention framework rather than the start of construction. Key operational details, including specific factory site selection, production capacity, licensing approvals, joint venture structuring, and internal corporate investment decisions by Hoymiles, remain to be finalized.
Sources
- Seetao · 2026-11-11
