Toyo announced it has leased a 567,140 ft2 facility in the metro-area of Houston, Texas, to establish a 2.5-GW solar panel assembly facility. Toyo is affiliated with Vietnam Sunergy (VSUN).
The Humble facility on Google Maps.
The facility in Humble, Texas, has already been constructed and was previously owned by Solar Plus Technology Texas LLC. No other information on the business is available, but Toyo said it has acquired a 100% stake in Solar Plus, including the building. Solar panel assembly equipment should arrive to Texas in early 2025, and the first 1 GW of production should commence by mid-2025. Toyo eventually would like to expand to 6.5 GW of production by 2029.
“This acquisition marks a significant step in Toyo’s strategy to establish a manufacturing footprint in the U.S., complementing our current manufacturing presence in Vietnam and Ethiopia,” said Junsei Ryu, Chairman and CEO of Toyo. “By acquiring Solar Plus, we will accelerate our development and leverage our team’s proven manufacturing excellence, as well as the extensively established customer relationships and the brand of our sister company Vietnam Sunergy.”
Toyo first announced plans to expand into the United States on an earnings call earlier this year. The company’s operations in Vietnam have been affected by the antidumping/countervailing duty investigations happening now by the Commerce Dept. Ryu said that the measures targeted toward companies operating in Southeast Asia led the company to accelerate plans to build out its U.S. manufacturing presence.
