Spanish companies have invested billions of dollars in American solar energy since US President Barack Obama has been in office, The Huffington Post reports.
Obama was sworn in for a second term yesterday, 20 January, and will give his inaugural address today.
According to the online news site, total Spanish investments in the US reached $45 billion in 2011.
Abengoa Solar’s Solana project in Arizona, expected to be the largest concentrating solar power plant in the world, is slated to begin producing energy this year. The plant will have a production capacity of 280MW gross and, according to Abengoa, will be the first solar plant in the United States with the ability to store energy.
Abengoa obtained a federal loan guarantee for approximately $1.45 billion in December 2010 from the US Department of Energy Federal Loan Guarantee Program to finance this project.
Under Obama, Spanish companies are also investing heavily in wind projects, HuffPo says, adding that Spani’s Iberdrola, claims to be the second-largest wind operator in the US wind energy sector behind Florida Power Energy, with 2.7 million customers in 23 states.
“Several companies have come here in recent years and we anticipate a second wave during this second term,” Ramon Gil-Casares, Spain’s ambassador in Washington, told HuffPo Spain. “Due to the [economic] crisis, Spain’s image has not been the best lately, but we trust that the $45 billion investment that Spain maintains in the US will continue to increase.”
