TOYO Acquires Texas Solar Plant to Boost Capacity by 2.5 GW by 2025

29 Nov 2024 CW Team

TOYO Corporation, a solar solutions provider, has acquired Solar Plus Technology Texas, a module manufacturing facility located in Houston, Texas. The operations of the facility will be managed by TOYO Solar, a subsidiary of TOYO, with an initial investment of $19.96 million allocated for Phase 1 construction.

This acquisition is aimed at advancing TOYO’s “made-in-America” solar module production initiative, which plans to achieve an initial capacity of 2.5 GW and expand to 6.5 GW by 2029. The newly leased facility, covering an area of 567,140 square feet, is expected to receive equipment by early 2025. Production of the first gigawatt is scheduled to begin by mid-2025, with the facility reaching its 2.5 GW capacity by year-end.

Junsei Ryu, Chairman and CEO of TOYO, noted that the U.S. acquisition aligns with the company’s existing facilities in Vietnam and Ethiopia. He emphasised TOYO’s intent to utilize the expertise of its sister company, Vietnam Sunergy, to maintain manufacturing excellence and leverage established customer relationships.

The acquisition forms part of TOYO’s larger strategy to strengthen its presence in critical markets and enhance its capabilities as a comprehensive solar solutions provider, encompassing upstream silicon and wafer production to downstream photovoltaic module manufacturing.

According to a joint report by the Solar Energy Industries Association and Wood Mackenzie, solar module manufacturing capacity in the U.S. increased by over 10 GW, reaching 31.3 GW in the second quarter of 2024. Additionally, the US increased its tariff-free solar cell import quota in August 2024, raising it from 5 GW to 12.5 GW to support domestic module manufacturers, although the tariff rate remains fixed at 14.25 per cent.

Infrastructure Urban

11 Mar 2026

India Expands Semiconductor Training To 500 Institutions

Under the Chips to Startups programme of the India Semiconductor Mission, the Union minister responsible for Railways, Information and Broadcasting, and Electronics and IT reported notable progress in talent development. He indicated that over the past four years substantial steps have been taken towards a 10-year target of training 85,000 engineers in semiconductor design. World-class EDA tools have been deployed in 315 academic institutions across the country to provide students with practical exposure to chip design. These EDA tools are supported by leading global firms and are accessible t..

Delhi Institutions Support India Semiconductor Mission

The Government of India has prioritised talent development through training, upskilling and workforce development under the Chips to Startups initiative of the India Semiconductor Mission, with officials noting progress in four years towards a 10-year target of training 85,000 engineers in semiconductor design. Electronic design automation tools provided by Synopsys, Cadence, Siemens, Renesas, Ansys and AMD have been deployed in 315 academic institutions, enabling students to gain practical chip design experience. Chips have been fabricated and tested at the Semiconductor Laboratory, Mohali, a..

NHA Announces Winners Of NHCX Hackathon At IIT Hyderabad

The National Health Authority (NHA) has concluded the NHCX Hackathon under the Ayushman Bharat Digital Mission (ABDM) to stimulate innovation around the National Health Claims Exchange (NHCX). The winning teams presented their solutions at the NHCX Innovation Meet held at IIT Hyderabad during a two-day event in March 2026 that also served as the hackathon grand finale. The hackathon itself ran from 22 to 28 February 2026 and aimed to accelerate paperless, transparent claims processing across India. The event was organised with a range of ecosystem partners, including the Insurance Regulatory a..