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