South Korean solar cells maker OCI Holdings is rapidly increasing production in the US despite President Donald Trump’s vow to slash clean energy subsidies, in what the company calls a “once-in-a-lifetime” opportunity to capitalise on power demand from data centres.
OCI, one of the world’s largest solar power developers, plans to invest $1.2bn to increase the annual cell-making capacity of its plant in Texas to 10GW by 2027 — enough to generate electricity equivalent to 10 nuclear power plants.
Increased energy requirements by data centres in the US will fuel demand for solar power and South Korean makers could fill the gap, especially as previously dominant Chinese groups are hit with tariffs, said Woohyun Lee, OCI’s chair and co-chief executive.