#Japan #Tokyo #TOYO #solar cells #Ethiopia

TOYO Co., Ltd Expands Solar Production in Ethiopia

TOYO Co., Ltd, a renowned solar solutions provider, has announced ambitious plans to double its solar cell production capacity at its Ethiopia facility. This expansion will introduce an additional 2 gigawatts (GW) of capacity, bringing the total to 4GW. The company made this announcement on March 26, 2025, highlighting the increase in global demand for high-performance solar cells.

Mr. Junsei Ryu, the Chairman and CEO of TOYO, expressed excitement about this development, stating that the expansion comes directly in response to the solid global demand observed even before the commencement of full operations of Phase 1. The first phase, which has been successfully completed, established the groundwork for increased production capacity by constructing a facility with an initial 2GW capacity.

The expansion plan includes several key milestones:

• - The groundbreaking for this additional capacity is anticipated to begin in April 2025, with plans for completion by July 2025.
• - Following completion, TOYO expects the new production line to be operational by August 2025.
• - The project requires an investment of approximately $47 million, indicating the company’s strong alignment with its growth strategy.

Negotiations are currently underway for a lease agreement covering a 28,000 m² facility in Hawassa, Ethiopia, which is strategically located adjacent to the existing automated cell production site. Utilizing the existing infrastructure will streamline the expansion process significantly, allowing for quicker realization of the facility's full production capabilities.

In his remarks, Mr. Ryu emphasized TOYO's commitment to delivering cutting-edge solar technologies that cater to the needs of the global market while also striving to minimize carbon emissions throughout the supply chain. This expansion represents a significant step towards TOYO’s ambition of becoming a major player in the international solar industry and underscores its dedication to a sustainable and clean energy future.

About TOYO Co., Ltd.

TOYO Co., Ltd has positioned itself as a full-service solar solutions company, engaging in various stages of the solar power supply chain, from wafer and silicon production to the manufacturing of photovoltaic modules. This integrated approach enables TOYO to produce high-quality solar cells while ensuring competitive efficiency and cost-effectiveness.

Given the rapidly shifting energy landscape and the growing emphasis on renewable energy sources, TOYO is committed to innovation and excellence in its solar technology offerings. The expanding capacity in Ethiopia represents not just growth for TOYO but also an opportunity to meet rising demands for sustainable energy solutions worldwide.

As TOYO advances with its plans for expansion, it remains optimistic about the future, viewing the increasing global interest in solar solutions as a foundation for its strategic growth and operational success. The company aims to work collaboratively with local stakeholders to ensure the successful execution of this project, fostering a sustainable energy ecosystem in Ethiopia.