Abengoa to Start Construction of Arizona Solar-Power This Year

Abengoa SA (ABG) plans to start construction of a solar plant in Arizona this year after getting $1.45 billion in loan guarantees from the U.S. government.

The plant, 70 miles (113 kilometers) southwest of Phoenix, will produce 250 megawatts and will serve 70,000 families, the Seville-based company said in a statement today. Solana, as the plant will be named, will prevent 475,000 tons in carbon-dioxide emissions annually.

President Barack Obama today announced $1.85 billion in loan guarantees to build sun-powered facilities in the U.S. he said will create thousands of new jobs.

The guarantees will come from the $862 billion economic stimulus program enacted early last year.

To contact the reporter on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.