Toyo expands its solar production plant in Ethiopia

TOYO (Nasdaq: TOYO), a global solar solutions company, is ramping up its solar production in Ethiopia, announcing a 2-gigawatt (GW) expansion to double its existing capacity. This comes right after the successful completion of its first 2GW facility, which is set to start production in early Q2 2025.

TOYO is expanding its footprint by integrating the entire solar power supply chain, from wafers and silicon to solar cells and photovoltaic modules. With this latest investment, the company is strengthening its position in the international market.

The expansion will double TOYO’s solar cell production in Ethiopia from 2GW to 4GW. Construction starts in April 2025, wraps up by July, and production kicks off in August. The price tag? A cool $47 million.

Why are we talking about it? Well, the first phase was already set to bring in up to 880 jobs in manufacturing and engineering, and now, with Phase 2 in the works, even more opportunities will open up, both during construction and in long-term operations, giving the local economy a solid boost.

But this isn’t just about scaling up. TOYO is betting big on Ethiopia, drawn by its competitive labor costs and potential preferential access to African and European markets. And with global demand for high-performance solar cells surging, the timing couldn’t be better.

We’re keeping a close watch on this for career opportunities in the green economy, and you should too! Stay connected; big things are happening, and opportunities are on the way.

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