Abengoa has secured a $1.45 billion loan guarantee from the U.S. government to build a solar-power plant in Arizona, Bloomberg reports. The Spanish solar-technology developer is planning to start construction before 2010-end and begin generating electricity before the end of 2013.

The world’s largest solar-power installation will produce 250 megawatts and serve 70,000 families. The company has entered into a power purchase agreement with the state’s largest electric utility, APS, to sell the energy produced by Solana for a period of 30 years, adds Greentech Media.

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