U.S. To Support Latin America's Largest Solar Power Plant

Image: Solar panels of local mining company CAP are seen in the Atacama Desert
File photo of solar panels of local mining company CAP seen in the Atacama Desert June 5, 2014. CAP inaugurated the largest solar plant in Latin America with an area equivalent to 200 football fields and to generate enough power to meet almost all the electrical needs of an iron ore mine. Fabian Andres Cambero / Reuters

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Latin America's largest solar power plant is coming soon to Chile. President Obama announced U.S. support for project Monday in a meeting with Chilean President Michelle Bachelet. The plant coming to Chile's Atacama Desert will be called Luz Del Norte, which means "Northern Lights." Chile's National Energy Strategy aims for the country's renewable energy capacity to make up 20 percent of total power generated by 2025, according to an OPIC release. The Overseas Private Investment Corporation approved a loan guarantee Friday of up to $230 million to support construction by Arizona-based First Solar, Inc.