Chinese solar cell producer Drinda New Energy Technology has cancelled plans to build a cell manufacturing plant in Oman.
The Chinese PV cell maker, which produces cells through its subsidiary Jietai Solar, confirmed the decision following a board meeting held on 12 November 2026.
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PV Tech first reported on the proposed Oman facility in 2024, when Drinda outlined ambitions to establish an overseas cell production base to diversify manufacturing beyond China. In its initial investment agreement with the Oman Investment Agency, Drinda planned to build 10GW of TOPCon PV cell manufacturing capacity in two 5GW phases. The company had secured land in the Sohar Free Zone with a total investment of approximately US$280 million and intended to serve overseas markets, including the Middle East and Europe, while strengthening Drinda’s international production footprint.
In its announcement of the plan’s termination, Drinda cited a combination of factors, including an evolving international trade and tariff landscape, escalating geopolitical uncertainty in the Middle East, and the slower-than-expected development of a localised supply chain for PV materials in Oman.
The company also pointed to proposed Chinese export control revisions announced in October 2026 covering certain PV-related technologies and equipment, which it said increased uncertainty around equipment supply, construction timelines, and investment costs. Drinda added that none of the joint implementation schemes it had pursued with potential investors and partners had materialised despite multiple rounds of negotiation, and that substantive construction work had not yet commenced, with minimal investment to date.
As a result, the board resolved to reallocate the unutilised net proceeds originally earmarked for the Oman project, totalling HK$962.77 million (US$122.7 million), toward other priorities. These include HK$577.66 million for research and development of PV cell products, technology upgrades, and production line revamping; HK$288.83 million for strategic procurement of raw materials, including silver paste and silicon wafers; and HK$96.28 million to replenish general working capital.
The reallocation plan requires shareholder approval and will be put to a vote at an extraordinary general meeting expected to be held in due course.
Drinda said the move reflects a sharpened focus on its core PV cell business, aiming to strengthen technological competitiveness and improve the efficiency of capital use following the collapse of its overseas manufacturing ambitions in Oman
