TOYO Co., Ltd To Scale Up Ethiopia’s Solar Power With Additional 2GW Solar Cell Capacity

TOYO Co., Ltd, a leading solar solutions provider, is expanding its solar cell production capacity in Ethiopia to meet the growing global demand for its products. The company has announced plans to add an additional 2 gigawatts (GW) of capacity at a new facility in Hawassa, Ethiopia. This expansion will double TOYO’s current production in the country from 2GW to 4GW and builds upon the successful completion of Phase 1 of its existing facility.

Construction of the new facility is set to begin in April 2025 and is expected to be completed by July 2025. TOYO plans to start production at the expanded site in August 2025, significantly increasing its manufacturing output within a short timeframe. The expansion is projected to require an investment of $47 million, reinforcing the company’s commitment to strengthening its presence in Ethiopia and supporting the solar energy sector.

Mr. Junsei Ryu, Chairman and CEO of the Company, said in a statement, “This expansion is a direct response to the strong demand we’re seeing globally for high-performance solar cells. We have successfully completed the construction of the Phase 1 solar cell manufacturing facility, which has a capacity of 2GW. We are currently conducting equipment installation, tests, and trial runs at this facility. With formal production scheduled to commence in the early second quarter of 2025, we are confident in our ability to scale up production quickly and efficiently.

He further added, “The global interest and orders we’ve received for our solar cell products, even before Phase 1 is fully operational, confirm the strength of our strategic vision. Given the global demand, we have decided to proceed with this additional capacity. TOYO is committed to providing cutting-edge solar solutions to meet the global market’s needs while reducing our carbon footprint across the supply chain. This expansion reinforces our aspiration to be a key player in the global solar industry and our dedication to a sustainable energy future.”

To facilitate this growth, TOYO is in discussions to lease a 28,000-square-meter facility adjacent to its existing automated cell production site in Hawassa. The proximity to the Phase 1 facility will allow the company to leverage existing infrastructure, streamlining the expansion process and reducing setup time. This strategic move highlights TOYO’s dedication to enhancing its manufacturing capabilities while responding efficiently to the increasing demand for renewable energy solutions worldwide.