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TOYO to Set UP 2 GW Solar Cell Manufacturing Facility in Ethiopia

TOYO has announced its plan to set up a 2 GW solar cell manufacturing facility in Hawassa, Ethiopia with an investment of USD 60 million.

October 15, 2024. By Mrinmoy Dey

Solar solutions provider TOYO Co. Ltd. has recently announced its plan to establish a state-of-the-art solar cell manufacturing facility in Ethiopia with an expected annual capacity of 2 GW. The project will entail an investment of USD 60 million.

TOYO expects to begin fitting out the new plant in November 2024, with the new factory anticipated to start production at the end of the first quarter of 2025. TOYO has selected a 31,500 sq. m. facility in Hawassa that will be modified to meet the needs of a modern, automated cell production line.

Once complete, TOYO estimates the new facility will create up to 880 jobs, including manufacturing and engineering. Ethiopia is exempt from tariffs for bifacial solar cells under Section 201 of the Trade Act of 1974 of the U.S.

Junsei Ryu, CEO of TOYO commented, “We are thrilled to embark on this ambitious project, which will enable us to rapidly scale up solar cell production to meet the needs of our planned module facility in the United States. Establishing this manufacturing plant is a key step in our strategic vision to diversify our supply chain and enhance our sourcing capabilities for solar solutions in the global market.”

Approximately 90 percent of Ethiopia's electricity generation comes from hydropower, with wind contributing 8 percent and thermal sources accounting for the remaining 2 percent. “The new facility will be able to take advantage of this green power supply to advance TOYO's goal of reducing the carbon footprint across our supply chain as this issue becomes increasingly important to utility-scale developers in the U.S., Europe, and other markets,” stated Ryu.

He further added, “This facility will enhance our production capabilities and increase efficiency, reduce costs, and respond more swiftly to market demands, positioning TOYO as a competitive key player in the renewable energy sector.”

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Solar manufacturing

TOYO

Solar Cell Manufacturing Line

Junsei Ryu

Solar cell plant in Ethiopia