TOYO secures $150m solar cells contract to bolster renewable energy growth
Author: PPD Team Date: 27/11/2024
Author: PPD Team Date: 27/11/2024
TOYO has signed a $150m solar cells supply contract with a leading solar module manufacturer to support production expansion in India and the United States. The company will utilize its manufacturing facilities in Vietnam and Ethiopia to produce advanced solar cells designed to enhance module efficiency and performance.
This partnership strengthens TOYO’s market position and aligns with its commitment to promoting sustainable energy. Chairman and CEO Junsei Ryu called the deal a significant milestone, emphasizing TOYO’s role in advancing global solar energy adoption.
In November 2024, TOYO acquired Solar Plus Technology Texas, which owns a 567,140ft² facility near Houston. Production is slated to begin in mid-2025 with an initial 1GW capacity, as part of TOYO’s U.S. expansion plans targeting 2.5GW capacity.
TOYO also plans to build a 2GW solar cell plant in Hawassa, Ethiopia, with a $60m investment leveraging the country’s investment incentives and hydropower resources. The 31,500m² facility underscores TOYO’s global efforts to drive renewable energy adoption.
Author: PPD Team Date: 23/05/2025 Patel Engineering Limited has secured an EPC (engineering, procurement, and construction) contract worth Rs 7.11 billion from NEEPCO Limited for the 240 MW Heo hydropower project in Arunachal Pradesh. The project is located in the Shi Yomi district and is scheduled for completion within 44 months. The scope of work includes civil works, infrastructure construction, testing, commissioning, and hydro-mechanical systems installation. The 240 MW project (3×80 MW units) is expected…
Author: PPD Team Date: 10/01/2025 Canadian Solar’s e-STORAGE division has signed contracts with Copenhagen Infrastructure Partners (CIP) to deliver 2GWh of battery energy storage for two major projects in Scotland: Coalburn 2 and Devilla. e-STORAGE will provide 450 SolBank 3.0 battery containers for the Coalburn 2 project in South Lanarkshire and the Devilla project in Fife. Both projects are set to begin construction in 2027, each with a two-hour energy storage dispatch capability. The combined…
Author: PPD Team Date: 02/04/2025 Prozeal Green Energy Limited has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth Rs 7.00 billion. The offering consists of a fresh issue of Rs 3.50 billion and an offer for sale of Rs 3.50 billion by existing shareholders. Of the offer for sale, promoter selling shareholders will divest Rs 3.37 billion, while investor selling…
Author: PPD Team Date: 18/06/2025 The Government of Haryana has announced a phased action plan to control air pollution in the National Capital Region (NCR). From January 1, 2026, only electric or compressed natural gas (CNG)-powered two-wheelers, light commercial vehicles, and N1-category large goods vehicles will be allowed to join vehicle fleets in NCR districts. All new autorickshaws must also be electric or CNG-based. A complete ban on non-BS-VI compliant goods vehicles, including those carrying…
Author: PPD Team Date: 28/10/2024 Convergence Energy Services Limited (CESL) has launched a tender to establish and maintain EV charging stations at seven locations within the Municipal Corporation of Faridabad, Haryana. Bids are due by October 30, 2024, with an opening on the same day. The tender requires a Rs 15,000 document fee and an earnest money deposit of Rs 212,000. The project is expected to complete within four months of award issuance or no-objection…
Author: PPD Team Date: 16/10/2024 Nexif Ratch Energy has announced the financial close of its 145 MWp Bacolod solar power project, its second solar venture in the Philippines. The ground-mounted project, located across Bacolod City and Bago City in Negros Occidental province, will provide clean energy to approximately 52,600 households. The project will connect to the National Grid Corporation of the Philippines’ Bacolod substation. Most of the electricity generated will be sold to a subsidiary…
Author: PPD Team Date: 23/05/2025 Patel Engineering Limited has secured an EPC (engineering, procurement, and construction) contract worth Rs 7.11 billion from NEEPCO Limited for the 240 MW Heo hydropower project in Arunachal Pradesh. The project is located in the Shi Yomi district and is scheduled for completion within 44 months. The scope of work includes civil works, infrastructure construction, testing, commissioning, and hydro-mechanical systems installation. The 240 MW project (3×80 MW units) is expected…
Author: PPD Team Date: 10/01/2025 Canadian Solar’s e-STORAGE division has signed contracts with Copenhagen Infrastructure Partners (CIP) to deliver 2GWh of battery energy storage for two major projects in Scotland: Coalburn 2 and Devilla. e-STORAGE will provide 450 SolBank 3.0 battery containers for the Coalburn 2 project in South Lanarkshire and the Devilla project in Fife. Both projects are set to begin construction in 2027, each with a two-hour energy storage dispatch capability. The combined…
Author: PPD Team Date: 02/04/2025 Prozeal Green Energy Limited has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth Rs 7.00 billion. The offering consists of a fresh issue of Rs 3.50 billion and an offer for sale of Rs 3.50 billion by existing shareholders. Of the offer for sale, promoter selling shareholders will divest Rs 3.37 billion, while investor selling…
Author: PPD Team Date: 18/06/2025 The Government of Haryana has announced a phased action plan to control air pollution in the National Capital Region (NCR). From January 1, 2026, only electric or compressed natural gas (CNG)-powered two-wheelers, light commercial vehicles, and N1-category large goods vehicles will be allowed to join vehicle fleets in NCR districts. All new autorickshaws must also be electric or CNG-based. A complete ban on non-BS-VI compliant goods vehicles, including those carrying…
Author: PPD Team Date: 28/10/2024 Convergence Energy Services Limited (CESL) has launched a tender to establish and maintain EV charging stations at seven locations within the Municipal Corporation of Faridabad, Haryana. Bids are due by October 30, 2024, with an opening on the same day. The tender requires a Rs 15,000 document fee and an earnest money deposit of Rs 212,000. The project is expected to complete within four months of award issuance or no-objection…
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Author: PPD Team Date: 23/05/2025 Patel Engineering Limited has secured an EPC (engineering, procurement, and construction) contract worth Rs 7.11 billion from NEEPCO Limited for the 240 MW Heo hydropower project in Arunachal Pradesh. The project is located in the Shi Yomi district and is scheduled for completion within 44 months. The scope of work includes civil works, infrastructure construction, testing, commissioning, and hydro-mechanical systems installation. The 240 MW project (3×80 MW units) is expected…
Author: PPD Team Date: 10/01/2025 Canadian Solar’s e-STORAGE division has signed contracts with Copenhagen Infrastructure Partners (CIP) to deliver 2GWh of battery energy storage for two major projects in Scotland: Coalburn 2 and Devilla. e-STORAGE will provide 450 SolBank 3.0 battery containers for the Coalburn 2 project in South Lanarkshire and the Devilla project in Fife. Both projects are set to begin construction in 2027, each with a two-hour energy storage dispatch capability. The combined…