Japan-based TOYO has entered into binding agreements to supply solar photovoltaic modules in the US, with a combined contract value of approximately $240m (Y37.75bn).
The company, which manufactures solar products, signed the deals with multiple customers since mid-June 2026.
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These contracts cover a range of applications including utility-scale power generation, community solar programmes, commercial and industrial projects, and data centre installations.
Deliveries under the agreements have begun and are expected to continue until the first half of 2027 (H1 2027).
TOYO will manufacture the modules at its facility in Houston, Texas. The plant has an annual manufacturing capacity of around 2GW for solar modules and currently employs around 600 staff across its manufacturing operations.
The series of agreements reflect what the company describes as increased customer demand for US-manufactured solar products, alongside growing interest in secure and diversified supply chains.
TOYO chairman and CEO Takahiko Onozuka said: “With approximately 2GW of module manufacturing capacity now operating in Houston, these agreements provide increased visibility into anticipated utilisation of that capacity through 2027.
“We are also seeing demand across multiple customers and market segments, including utility-scale generation, commercial and industrial projects, and community solar and data-centre applications. This commercial momentum reinforces our confidence in the US manufacturing strategy we are executing.”
TOYO noted that its US manufacturing base is intended to serve customers focused on sourcing domestically produced modules.
The company stated that this approach also addresses requirements related to supply chain security, domestic content considerations and Foreign Entity of Concern rules.
TOYO chief strategy officer Rhone Resch said: “Customers are increasingly looking for US-manufactured products backed by secure, diversified supply chains, and TOYO is well positioned to meet that demand.
“Our Houston operations provide the foundation for a broader integrated US manufacturing strategy that we believe can create meaningful long-term value for both our customers and our shareholders.”
