Source: The Washington Post
President Obama announced the award of $1.85 billion in loan guarantees Saturday to two solar power companies that he said will create thousands of new jobs. In his weekly address, Obama said the money from the Energy Department will help the U.S. transition to a “clean energy economy” that creates hundreds of thousands of jobs in the future. “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. Abengoa Solar will receive a $1.45 billion loan guarantee to build a solar power plant in Arizona that will create 1,600 construction jobs and 85 permanent jobs. The power plant will be the first of its kind in the United States and could generate enough energy to power 70,000 homes. Abound Solar, based in Loveland, Colo., will receive a $400 million loan guarantee. Click here to read more about the Energy Department’s Solar Power Funding.
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