US to finance solar power plant in Chile

2014-07-01 09:04
(File, AP)

(File, AP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Washington - The United States is helping Chile build a major solar power plant in the Atacama Desert, US President Barack Obama said Monday.

In his meeting with Chilean President Michelle Bachelet, Obama said the 141-megawatt plant would "help meet their energy needs".

The 230 million dollars in backing will come from the Overseas Private Investment Corporation (OPIC), a US government arm that mobilises private capital for development projects.

Bachelet noted strong economic ties with the United States through a 10-year-old free trade agreement.

Chile has further strong trade programmes with California and Massachusetts. Obama saluted Chile as a "model of democracy in Latin America".

"It's been able to consistently transition from centre-left governments to centre-right governments, but always respectful of democratic traditions," Obama said.

He noted that Bachelet "knows as well as anybody" how hard-won that democracy was.

Bachelet's father, a Chilean Air Force general, opposed General Augusto Pinochet's 1973 coup to topple elected socialist president Salvador Allende.

Her father died in prison as a consequence of torture. Bachelet and her mother were arrested and tortured.

Since June 2013, OPIC has approved nearly $900m in loan guarantees to build six renewable energy projects in Chile.
Read more on:    barack obama  |  michelle bachelet  |  chile  |  us  |  renewable energy

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.