PVTIME – In a major development for the solar energy industry, Toyo Co., Ltd. (TOYO) has made a significant announcement. The company has revealed plans to invest $47 million in a 2GW solar cell capacity expansion project at the Hawassa Industrial Park in Ethiopia.
The project is scheduled to begin construction in April 2025. With an ambitious schedule, construction is expected to be completed by July, with production starting in August. This expansion will double TOYO’s solar cell production capacity in Ethiopia, with the first phase of the 2GW factory already built. It is currently in the equipment debugging and trial operation phase and is on track to start formal production in the early second quarter of 2025.
Notably, TOYO has already secured a significant number of international orders even before the first factory is in full production. This success has prompted the company to launch the second phase of expansion at the same time.
This expansion is not just a local venture in Ethiopia. It is an integral part of TOYO’s global strategic plan. By 2025, TOYO expects to increase its total production capacity to 14GW. This will be spread across its facilities in Japan (5GW), Malaysia (3GW), Ethiopia (4GW) and Vietnam (2GW). As TOYO continues to grow and expand its footprint, the solar energy landscape is set to change significantly. Stay tuned for further updates as this project develops.
 has made a significant announcement. The company has revealed plans to invest $47 million in…){kind=link}