HAWASSA—TOYO Solar has committed to investing $60 million to open a solar cell manufacturing facility in Ethiopia, marking a significant expansion in the country’s renewable energy sector.
According to Ethiopian News Agency, the Memorandum of Understanding (MOU) was signed between TOYO Solar and the Ethiopian Investment Commission (EIC) with plans to locate the factory in Hawassa Industrial Park. The new facility will span over three hectares and aims to bolster Ethiopia’s position in the solar industry.
The EIC noted that the plant is projected to produce 15.5 million pieces of solar cells each month. This substantial output is expected to foster skills development within the local solar energy sector, generate considerable foreign currency earnings, and create approximately 1,000 new jobs.
The MOU was formalized by Zeleke Temesgen, Deputy Commissioner of the EIC, and Li Huayang, General Manager of TOYO Solar Manufacturing One Member PLC, indicating a strong partnership and shared goals in advancing renewable energy initiatives within the region.
