News Release

Release No. 0295.15
Contact:
Office of Communications -LRB-202-RRB-720-4623 Printable variation Email

this page USDA Awards

Almost $2.3 Billion

in Loans for 77 Rural Electric Facilities Projects $108 Million Allocated for Smart Grid Improvements WASHINGTON, Oct. 22, 2015- Agriculture Secretary Tom Vilsack today revealed nearly$2.3 billion in loans to build and improve rural electric facilities in 31 states. Improving our rural electric utility systems will help us remain to offer trustworthy and budget friendly

electrical energy to rural clients, Vilsack said. By financing these enhancements, USDA assists enhance effectiveness, reduce carbon emissions and improve the quality of life in rural locations. USDA is granting loans to 77 utilities and cooperatives in 31 states. The funding consists of more than $108 million for clever grid innovation,

$41 million for eco-friendlyrenewable resource enhancements and$9 million for storm damage repair services. These loans will help build or improve 12,000 miles of transmission and distribution lines. The funding is being provided through USDA Rural Advancement Electric Program, makings loans and loan warranties to non-profit and cooperative associations,

public bodies and other energies, mostly for electric distribution in rural locationsbackwoods. For example, Midwest Energy Cooperative in Michigan, which serves more than 35,000 clients in Michigan, Indiana and Ohio, is getting a$ 59 million loan to improve service to its customers

. It will make use of$ 33 million to fund wise grid technologies. Smart grid increases the dependability of electric power by assisting utilities better manage the electric grid to enhance operational effectiveness. It consists of metering, substation automation, computer system applications, two-way

interactions, geospatial information systems and other enhancements. In Iowa, USDA is supplying a $59.8 million loan to the Central Iowa Power Corporation to fund more than 126 miles of brand-new or updated power lines. The utility disperses power to more than 125,000 domestic customers and 17,000 businesses in 51

Iowa counties. The Cornelius, NC, firm O2 EMC Profile 1, LLC is getting 3 loans totaling nearly $23 million to build numerous solar farms. The business establishes, has and operates solar farms across the Southeast. Financing of each award revealed today is contingent upon

the recipient conference the terms of the loan or grant arrangement. Given that 2009, USDA has actually moneyed $34 billion in electric loans and more than$ 1 billion for smart grid technologies. This help has assisted construct more than 185,000

miles of transmission and distribution lines serving roughly 8.5 million rural consumers. USDA has actually been dedicated to improving

the production and transmission of electrical power in rural communities since the development of the Rural Electrification Administration in 1935. President Obamas strategy for rural America has actually brought about historic financial investment and led to more powerful rural neighborhoods. Under the Presidents leadership, these

investments in real estate, community centers, businesses and facilities have empowered rural America to continue leading the way-enhancing Americas economy, littletowns and

rural communities. # USDA is an equal opportunity supplier and employer. To submit a problem of discrimination, compose: USDA, Office of the Assistant Secretary for Civil liberty, Workplace of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call -LRB-866-RRB- 632-9992 (Toll-free ClientCustomer support), -LRB-800-RRB- 877-8339(Local or Federal relay), -LRB-866-RRB- 377-8642 (Relay voice users).