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Where is Toyo launching a solar cell plant in Ethiopia?

The proposed solar cell manufacturing plant will be developed on a 31,500m² facility in Hawassa, for which TOYO has already executed a lease agreement. The project location is a strategic choice influenced by Ethiopia’s favourable investment policies, tariff exemptions and hydropower resources.

Does Ethiopia have solar energy?

Ethiopia aims to diversify its electricity generation capabilities by investing into an energy mix, of which photovoltaics will be a part. There are excellent conditions to use solar energy in Ethiopia, in particular in Tigray Region and on the eastern and western rims of the Ethiopian Highlands (roughly 2% of Ethiopia's area).

How much does solar electricity cost in Ethiopia?

In the Ethiopian case, they found that the cost of solar PV generated electricity showed large variability across different areas ranging from about 66 cents/kWh to more than one dollar [14, p. 222]. In general, very limited studies on the cost of solar electricity in sub-Saharan African countries (including Ethiopia) have been conducted .

Is there a private investment in solar power plants in Ethiopia?

However, there was no private investment in solar power plants in Ethiopia. Mainly the Ethiopian Electric Power Corporation (EEPCo) has been a state-owned and vertically integrated monopoly that controls the market from generation to selling of electricity throughout the country .

Is solar a viable option in Ethiopia?

But our previous study identified that the policy makers in Ethiopia believe that solar is too costly and not a viable option . The current electricity tariff in Ethiopia is highly subsidized and one of the lowest in Africa. The tariff depends on the monthly energy consumption and varies among user classification.

Does Ethiopia have a tariff exemption for bifacial solar cells?

Ethiopia has been granted a tariff exemption for bifacial solar cells under Section 201 of the US Trade Act 1974. TOYO CEO Junsei Ryu stated: “Establishing this manufacturing plant is a key step in our strategic vision to diversify our supply chain and enhance our sourcing capabilities for solar solutions in the global market.