- TOYO (Nasdaq: TOYO) commences production at its new 2GW solar cell facility in Ethiopia.
- The company plans to expand the Ethiopian plant's capacity to 4GW due to strong demand.
- Monthly production expected to reach 150-200MW by May-June 2025.
TOYO Co., Ltd (Nasdaq: TOYO), a leading solar solutions provider, has officially launched production at its newly established 2GW solar cell facility in Ethiopia as of early April 2025. The facility is set to deliver over 80 MW of solar cells to customers by the end of April. This marks a significant milestone for TOYO in its efforts to strengthen its global solar manufacturing operations.
The Ethiopian plant will experience a substantial ramp-up in production by May and June 2025. Monthly production capacity is expected to reach between 150 and 200 MW, addressing the growing demand for renewable energy solutions. In response to robust customer demand and internal requirements from its module facility in Houston, Texas, TOYO has outlined plans to expand the Ethiopian plant's nameplate capacity to 4GW.
This strategic expansion aligns with TOYO's broader objective to diversify manufacturing locations while enhancing its footprint in the global solar market. Chairman and CEO Junsei Ryu expressed optimism about the strong market demand and highlighted the company's commitment to sustainable energy growth worldwide, positioning 2025 as a significant year of growth for TOYO.
