TOYO to build 2GW solar cell manufacturing facility in Ethiopia
Author: PPD Team Date: 16/10/2024
Japanese firm TOYO has announced plans to build a 2GW solar cell manufacturing facility in Hawassa, Ethiopia, with an estimated investment of $60 million. The facility will be developed on a 31,500m² site, with construction set to begin in November 2024 and production expected by the end of Q1 2025. The project will create up to 880 jobs in manufacturing and engineering.
Ethiopia’s favourable investment policies and tariff exemptions, along with its reliance on green hydropower, make Hawassa a strategic choice for the plant. TOYO’s CEO Junsei Ryu highlighted the facility’s role in diversifying the company’s supply chain and reducing its carbon footprint.