WASHINGTON (AP) -- The United States is willing to help Chile build the largest solar power plant in Latin America.
President Barack Obama expressed that willingness during an Oval Office meeting today with Chilean President Michelle Bachelet (bah-cheh-LET'), who has returned to office after winning election in March.
On Friday, the Overseas Private Investment Corporation approved a loan guarantee of up to $230 million to support construction of a 141-megawatt solar power plant in the Chilean desert, an area that gets some of the planet's steadiest concentrations of direct sunlight.
It's being constructed by an Arizona company, First Solar.
Since June of 2013, OPIC has approved almost $900 million in loan guarantees for six renewable energy generation projects in Chile. That makes the U.S. the largest lender for those projects.
The White House says they help generate U.S. exports and support U.S. jobs.
170-a-12-(President Barack Obama, speaking to reporters during meeting with Chilean President Michelle Bachelet)-"their energy needs"-President Obama says America and Chile are working closely on development of clean energy for that country. (30 Jun 2014)