TOYO, a leading solar solutions company, has announced plans to expand its solar cell manufacturing capacity in Ethiopia by an additional two gigawatts (GW). This expansion follows the successful completion of Phase 1 at its Hawassa facility.
The firm had in last year unveiled a US$60M investment to establish a solar cell manufacturing plant in Hawassa with an annual capacity of 2GW. The project was financed through internal resources and pre-payments, with fitting-out beginning in November. Production for Phase 1 is scheduled to commence by the end of the first quarter of 2025.
With this new expansion, TOYO’s total solar cell production capacity in Ethiopia will double from 2GW to 4GW, enabling the company to meet the rising global demand for its high-performance solar products. TOYO’s CEO and Chairman, Junsei Ryu, emphasized that the expansion aligns with the strong global demand for solar cells.
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Commitment to sustainability
He noted that the construction of the Phase 1 facility is complete, with equipment installation, testing, and trial runs currently underway. Full-scale production is expected to begin in the early second quarter of 2025. The company’s decision to expand further is driven by the significant market interest and pre-orders received even before Phase 1 has become fully operational.
Phase 2 construction is set to begin in April 2025, with completion expected by July and production slated to start in August. The expansion will require an estimated US $47M investment. TOYO is currently negotiating a lease for a 28,000m² facility adjacent to its existing Phase 1 site. The existing infrastructure will support the new development, allowing for a faster setup.
Reaffirming TOYO’s commitment to sustainability, Ryu highlighted the company’s goal of delivering advanced solar solutions while minimizing its carbon footprint across the supply chain. This expansion strengthens TOYO’s position in the global solar industry and reinforces its dedication to a greener energy future.
Additionally, in November 2024, TOYO secured a US $150M contract to supply solar cells to a solar module manufacturer. This deal will support the expansion of solar module production in India and the United States.
