Abengoa Solar gets loan guarantee from US govt

Abengoa Solar has got more than $1.85 billion as loan guarantee from American government today. According to our correspondent, United States President Barack Obama has declared that American government is going to finance Abengoa Solar as it will help American people to get excellent jobs in this giant company. The loan guarantee has been approved by Obama for developing solar facilities in America.

Definitely this is a great step by Obama as world has been going through recession for years and rate of unemployment across the world has dramatically risen internationally. With this investment, United States is expecting thousand jobs in the future. This money has been landed by the American Energy Department for transitioning a hygienic energy economy, said Barak Obama in his radio and online media address.

Obama also mentioned in his address that government is announcing this loan guarantee for competing relentlessly to ensure excellent future of the solar industries is excellent in United States. President Obama stated that we have been staying in recession which has affected more than eight million jobs and it will take us almost years for excavating our way out.

Abengoa Solar is a division of Spanish company which deals in energy, transportation, environment, telecommunication and solar power system. This company will develop a solar energy plant in American state Arizona and for this it will get more than $1.45 billion loan guarantee from US government. This solar energy system will provide energy to 70,000 houses in America and it will ensure 1,600 construction jobs besides 85 undeviating jobs to Americans.

What a marvelous step which Obama has taken to demolish unemployment from United States, we appreciate this initiative.


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