Core Viewpoint - TOYO Co., Ltd is expanding its solar cell capacity by an additional 2 gigawatts (GW) at its facility in Ethiopia, responding to strong global demand for high-performance solar cells [1][2]. Expansion Details - The expansion will double the current production capacity from 2GW to 4GW [8]. - The project is estimated to require an investment of $47 million [8]. - Construction for the expansion is scheduled to begin in April 2025 and is expected to be completed by July 2025, with production commencing in August 2025 [8]. Facility and Infrastructure - TOYO is negotiating a lease for a 28,000 m² facility in Hawassa, Ethiopia, adjacent to the existing Phase 1 site, which will support the Phase 2 expansion [3]. - The existing infrastructure from Phase 1 will significantly shorten the timeline for the expansion [3]. Strategic Vision - The company aims to be a key player in the global solar industry while reducing its carbon footprint across the supply chain [4]. - TOYO is committed to becoming a full-service solar solutions provider, integrating various stages of the solar power supply chain [5]. Production Readiness - Phase 1 of the solar cell manufacturing facility has been completed with a capacity of 2GW, and equipment installation, tests, and trial runs are currently underway [2]. - Formal production at the Phase 1 facility is scheduled to commence in early Q2 2025 [2].
TOYO Co., Ltd Announces Plans for Additional 2GW Solar Cell Capacity Expansion in Ethiopia