Obama announces 2 billion dollars in funding for solar power
Saturday, July 03, 2021 9:08 AM

Related Stories

WASHINGTON, Jul. 3, 2010 (Xinhua News Agency) -- 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."



Symbol :


Market news:

  • Cop: Home invasion suspects texted hours before Sep 23, 2021 07:28 PM

    • NEW HAVEN, Conn. - Two Connecticut men charged with killing a woman and her two daughters in a 2007 home invasion exchanged text messages hours before in which one said he had to put his own child to bed, an investigator testified Thursday.
    • State police investigator John Farnham testified at the trial of Steven Hayes that Hayes and Joshua Komisarjevsky (koh-mih-sar-JEV'-skee), texted each other the evening of July 22, hours before the attacks in Cheshire.
    • Farnham said Hayes messaged Komisarjevsky that he was "chomping at the bit to get started."
      • Montana woman fends off bear attack with zucchini Sep 23, 2021 07:25 PM

        • HELENA, Mont. - A Montana woman fended off a bear trying to muscle its way into her home Thursday by pelting the animal with a large piece of zucchini from her garden.
        • The attack happened just after midnight when the woman let her three dogs into the backyard for their nighttime ritual before she headed to bed, Missoula County Sheriff's Lt. Rich Maricelli said.
        • Two of the dogs sensed the bear, began barking and ran away, Maricelli said.
          • US walks out on Ahmadinejad's UN speech Sep 23, 2021 07:25 PM

            • UNITED NATIONS - The U.S. delegation walked out of the U.N. speech of Iranian President Mahmoud Ahmadinejad on Thursday after he said some in the world have speculated that Americans were behind the Sept. 11 terror attacks, staged in an attempt to assure Israel's survival.
            • Ahmadinejad has called for the destruction of Israel and is deeply at odds with the United States and European allies over its nuclear program and suspicions that it is designed to produce an atomic bomb.
            • Iran says it is only working on technology for electricity generation.
              • Gates says he has no doubts about war strategy Sep 23, 2021 07:18 PM

                • WASHINGTON - Defense Secretary Robert Gates said Thursday that the Obama administration's redrawn Afghanistan war strategy is sound, answering claims in a new book that the plan was a politically driven hodgepodge.
                • Once President Barack Obama announced the plan his entire administration and the military swung behind it, Gates said during a Pentagon news conference.
                • The resulting divisions and bureaucratic backbiting are laid out in Washington Post writer Bob Woodward's book "Obama's Wars."
                  • Beckham to sue magazine over claims in Germany Sep 23, 2021 07:09 PM

                    • LOS ANGELES - A spokesman says David Beckham will file suit in Germany against the U.S. magazine that published claims the soccer superstar had sex with prostitutes.
                    • Los Angeles publicist Jeff Raymond said the former captain of England's national team will sue In Touch magazine in several jurisdictions beginning Friday but declined to provide more details.
                    • Beckham has been married to former Spice Girl singer Victoria Beckham for 11 years.

                      More news


    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
gofasterstripesMr Lak CTXS$0.25
anamrdaNA JNJ$1.15