BIG BOOST FOR U.S. SOLAR

Obama outlines acceleration of clean-energy economy; President, in weekly address, announces nearly $2 billion in energy funds
July 3, 2010 (MarketWatch)

"U.S. President Barack Obama … outlined plans to ramp up the number of clean-energy jobs in the U.S., with his administration's goal fueled in part by roughly $2 billion in new conditional commitments to two solar companies.

"Abengoa SA...was offered a $1.45 billion loan guarantee by the U.S. Department of Energy to build a 250-megawatt solar plant in Arizona, and Abound Solar Manufacturing was offered a $400 million loan guarantee toward two plants where thin-solar panels will be manufactured."

The Abengoa 11 megawatt PS10 solar power tower power plant. (click to enlarge)

"The guarantees through the Recovery Act and other measures are expected by the awardees to create more than 5,000 jobs…[The President said] the investments will help the country establish leadership in "cutting-edge" solar technology, and create jobs to aid economic recovery efforts.

"A transition to a clean-energy economy and doubling use of renewable-energy sources including wind and solar power "have the potential to create whole new industries and hundreds of thousands of new jobs in America," said Obama…"

An Abound Solar manufacturing facility. (click to enlarge)

"Abengoa Solar Inc., a subsidiary of Spanish renewable energy and engineering firm Abengoa SA, has agreed to build a solar generation plan near Gila Bend, Ariz. The Solona project will create 1,600 jobs in Arizona and about 85 permanent jobs once the plant is operational…70% of the components and products used in the construction will be made in the U.S., and the plant will generate enough to power for more than 70,000 homes at full capacity.

"Abound Solar Manufacturing plans to use the loan proceeds to expand its Longmont, Colo. plant. A portion of the proceeds will be used to open a new plant in an empty Chrysler supplier factory in Tipton, Ind…[The company] estimates construction of the plants will 2,000 jobs, with 1,500 permanent manufacturing and technical jobs..."