US President Obama announces $2 billion for Solar Energy Companies
During his weekly address to the nation, US President Obama announced $2 billion to be invested in solar companies Abengoa Solar Inc. and Abound Solar Manufacturing.
Abengoa Solar Inc., has been offered a conditional commitment of a $1.45 billion loan guarantee to build what will be one of the largest solar generation plants in the world near Gila Bend, Arizona. The project is expected to create 1,600 jobs, with over 85 % of those being permanent positions.
The solar thermal project , dubbed "Solana," will produce 280 megwatts of power.
Abengoa already has 7 completed and operational solar thermal and solar concentrating electrical generation plants in the United States.
The second investment by the Department of Energy and announced by President Obama is a $400 million loan guarantee for Abound Solar Manufacturing to build two plants, one in Tipton, Indiana, the other in Longmont, Colorado, to manufacture state-of-the-art thin-film solar panels.
Download a White House PDF fact sheet on the $2 billion investment in solar energy here.
A full transcript of the President's weekly address can be found here: President Obama Touts Nearly $2 Billion in New Investments to Help Build a Clean Energy Economy
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