US module manufacturer Toledo planning international expansion via KordSA partnership
2022-11-08
US module manufacturer Toledo planning international expansion via KordSA partnership
Founded in 2019, Toledo Solar manufactures cadmium telluride modules in the US. Image: Toledo Solar.
US module manufacturer Toledo Solar has partnered with Turkish-based material manufacturer KordSA to expand its PV manufacturing capacity across Europe and Central Asia.
KordSA, a division of Sabanci Holding Group, has invested in Toledo Solar and licensed rights to open factories in Turkey and Central Europe that will produce Toledo’s thin film modules.
Through the partnership, the companies expect to build factories with gigawatts of capacity to target the rooftop segment in Europe, while also expanding beyond rooftop solar to larger PV projects between 5MW-50MW, floating solar, building integrated photovoltaics (BIPV) and agrivoltaics.
The Ohio-based manufacturer continues to ramp up its manufacturing capacity after announcing that it will increase its US production capacity of cadmium telluride modules to 2.8GW by 2027 in response to the passage of the Inflation Reduction Act.
“Their [KordSA] demonstrated expertise in setting and maintaining the highest standards of operational excellence, human resource development and environmental stewardship while rapidly scaling factory deployments globally is unparalleled. This strategic partnership will provide a meaningful contribution to Europe’s drive to achieve greater energy independence and resilience,” said Aaron Bates, chairman and CEO of Toledo Solar.
The manufacturer is part of an initiative launched by the US Department of Energy earlier this year that aims to accelerate the development of cheaper, more efficient cadmium telluride solar cells.
Founded in 2019, Toledo Solar manufactures cadmium telluride modules in the US. Image: Toledo Solar.
US module manufacturer Toledo Solar has partnered with Turkish-based material manufacturer KordSA to expand its PV manufacturing capacity across Europe and Central Asia.
KordSA, a division of Sabanci Holding Group, has invested in Toledo Solar and licensed rights to open factories in Turkey and Central Europe that will produce Toledo’s thin film modules.
Through the partnership, the companies expect to build factories with gigawatts of capacity to target the rooftop segment in Europe, while also expanding beyond rooftop solar to larger PV projects between 5MW-50MW, floating solar, building integrated photovoltaics (BIPV) and agrivoltaics.
The Ohio-based manufacturer continues to ramp up its manufacturing capacity after announcing that it will increase its US production capacity of cadmium telluride modules to 2.8GW by 2027 in response to the passage of the Inflation Reduction Act.
“Their [KordSA] demonstrated expertise in setting and maintaining the highest standards of operational excellence, human resource development and environmental stewardship while rapidly scaling factory deployments globally is unparalleled. This strategic partnership will provide a meaningful contribution to Europe’s drive to achieve greater energy independence and resilience,” said Aaron Bates, chairman and CEO of Toledo Solar.
The manufacturer is part of an initiative launched by the US Department of Energy earlier this year that aims to accelerate the development of cheaper, more efficient cadmium telluride solar cells.
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