Genesis Morocco: Obama announces 2 billion dollars in funding for solar power


Loading Assets... Please wait

Genesis Morocco

Project Genesis is a strategic sustainable development framework for Morocco to translate from being a net importer of energy and a country facing water shortage issues, into the number one producer both of clean renewable energy and water in the region.

Sunday, July 4, 2010    <<Home

Obama announces 2 billion dollars in funding for solar power



English.news.cn 2010-07-03 21:12:08

WASHINGTON, July 3 (Xinhua) -- President Barack Obama announced Saturday the awarding of nearly 2 billion U.S. dollars to two solar energy companies as an effort to boost employment and solar power in the United States.

"We're going to keep competing aggressively to make sure the jobs and industries of the future are taking root right here in America," Obama said in his weekly radio and online address.

The energy companies, Abengoa Solar and Abound Solar Manufacturing, will receive the funds from 862 billion dollars in economic stimulus.

Abengoa will build the "world's largest solar plant" in Arizona, which will create about 1,600 construction jobs.

The 280-megawatt Solana generating station will supply electric power to approximately 70,000 homes while avoiding more than 475,000 tons of greenhouse gases, Abengoa said.

It estimated that the plant could sell 4 billion dollars worth of energy over 30 years. The power generated will be purchased by Arizona Public Service.

Abound Solar is to build two new plants in Colorado and Indiana that will create more than 2,000 construction jobs and over 1,500 permanent jobs.

"These are just two of the many clean energy investments in the Recovery Act. Already, I've seen the payoff from these investments. I've seen once-shuttered factories humming with new workers who are building solar panels and wind turbines; rolling up their sleeves to help America win the race for the clean energy economy," Obama said.

The president said that after years of watching companies build things and create jobs overseas, it's "good news" to have attracted a company to build a plant and create jobs in America.

"What's more, over 70 percent of the components and products used in construction will be manufactured in the U.S.A., boosting jobs and communities in states up and down the supply chain," Obama said. "Once completed, this plant will be the first large-scale solar plant in the U.S. to actually store the energy it generates for later use -- even at night."

Editor: Yang Lina

//Personal notes : Happy 4th of July.