PVTIME – TOYO, a Japanese solar solutions provider, recently announced its plan to build a 2GW solar cell factory in Hawassa, Ethiopia, with an estimated investment of US$60 million.
A lease agreement has been signed for the 31,500 m2 factory, and the new plant is scheduled to begin construction in November 2024, with production expected to begin at the end of March 2025. Upon completion, the plant will create approximately 880 jobs for local people.
Ethiopia is favourable for solar cell manufacturing due to its investment policy, tariff status and abundant hydro power supply. Ethiopia is exempt from tariffs on bifacial solar cells under Section 201 of the US Trade Act of 1974. Approximately 90% of Ethiopia’s electricity generation comes from hydropower, with wind contributing 8% and thermal sources accounting for the remaining 2%. The new facility will be able to take advantage of this green power supply to further TOYO’s goal of reducing its carbon footprint throughout its supply chain as this issue becomes increasingly important to utility-scale developers in the US, Europe and other markets.
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