President Obama says the U.S. will help Chile build Latin America's largest solar power plant

First Solar has just landed another big contract. During a meeting in the Oval Office with Chilean President Michelle Bachelet, President Obama announced the Overseas Private Investment Corporation has approved a loan guarantee of  $230 million for he construction of the largest solar electrical generation plant in Latin American, The Associated Press reports in Obama Says US Supporting Chilean Solar Power Plant.

Obama touted the project during an Oval Office meeting with Chilean President Michelle Bachelet, who has returned to office after winning election in March. Obama said Chile has been a model democracy in Latin America and he wants to deepen cooperation between the two nations.

The Overseas Private Investment Corporation on Friday approved a loan guarantee of up to $230 million to support Tempe, Arizona-based First Solar's construction of a 141 megawatt solar power plant in Chile's Atacama Desert, which receives some of the planet's steadiest concentrations of direct sunlight.

Since June 2013, OPIC has approved almost $900 million of loan guarantees for six renewable energy generation projects in Chile, making the U.S. the largest lender for those projects. The White House said the projects help generate U.S. exports and support U.S. jobs.

And, Laura Barron-Lopez of The Hill adds in Obama: US to help Chile build massive solar plant,

"We’re both very interested in energy and how we can transition to a clean energy economy. And we’ll be announcing some collaborations, including the facilitation of a construction of a major solar plant inside of Chile that can help meet their energy needs," Obama said before the bilateral meeting with Chilean President Michelle Bachelet.

The Overseas Private Investment Corp. (OPIC) approved a loan guarantee of $230 million to support construction of the 141-megawatt solar plant, which is being built by Arizona-based First Solar.

The six renewable energy projects are expected to cut 2.1 million tons of carbon dioxide emissions annually, generate more than $290 million in U.S. exports, and support more than 400 jobs in the U.S., according to the White House.

Solar energy is on a roll lately. The sun seems to be rising everywhere we look.

Looks like its going to be a sunny day in Chile.