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Abengoa to Start Construction of Arizona Solar-Power This Year

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July 3 (Bloomberg) -- Abengoa SA 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

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