Skip to comments.US to finance power plant in Chile
Posted on 06/30/2014 11:47:05 PM PDT by 2ndDivisionVet
The United States is helping Chile build a major solar power plant in the Atacama Desert, US President Barack Obama said.
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 mobilizes 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 center-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 900 million dollars in loan guarantees to build six renewable energy projects in Chile.
Read the article. Her father was a socialist at best and probably a communist. Just the kind of people you-know-who likes to associate with.
and it is a wasteful solar mess...
In the noonish daytime, at certain times of year.... maybe
Why don’t they just build a real power plant? It’d be cheaper and provide a LOT more power.
Funny. We help rid the continent of communism.
Now, we promote it, finance it and even give stupidity away for free....
Hey, no problem, as long as none of it goes to Soros..
like Brazil and Paribas a few years ago
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