October 10, 2019
USDA is investing $251 million to upgrade rural electric systems in 13 states. The funding includes $38.2 million to finance smart grid technologies that improve system operations and monitor grid security.
USDA is providing financing through the Electric Loan Program for 12 projects that will serve rural areas in Colorado, Georgia, Indiana, Kentucky, Maine, Maryland, Minnesota, Nebraska, North Carolina, North Dakota, Virginia, Wisconsin and Wyoming. The funding will help build and improve 1,971 miles of line to improve electric reliability in rural areas.
Among the loans announced:
Aligned Solar Partners 1, LLC in Maine will use a $1.7 million loan to finance a pair of 1 megawatt solar projects in Aroostook and Kennebec counties. The electricity generated will power two rural municipal water and sewer systems. This loan is an example of the ways in which USDA coordinates assistance through multiple programs – in this case the Electric and Water and Wastewater Programs.
North Carolina Electric Membership Corporation will use a $16.6 million loan to improve generation systems at the Catawba Nuclear Station. NCEMC is a generation and transmission electric cooperative headquartered in Raleigh, N.C. It provides power to distribution cooperatives across 93 counties.
The A&N Cooperative, serving southeast Virginia and Maryland, will use a $54.4 million loan to build and improve 249 miles of line to improve service to 2,144 customers. The loan includes more than $5 million for smart grid technology. A&N serves 36,000 customers over nearly 2,500 miles of line in the lower Delmarva Peninsula in Accomack and Northampton counties in Virginia, and on Tangier Island (Va.) and Smith Island (Md.) in the Chesapeake Bay.
USDA will make additional funding announcements in coming weeks. USDA had $5.5 billion available for Electric Program loans in fiscal year 2019.
Source: USDA, which is solely responsible for the information provided and is wholly owned by the source. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset.
You May Also Like
Current Conditions for
Enter a zip code to see the weather conditions for a different location.
Are you ready for a run-up in cattle prices?Dec 01, 2023
Weekly Grain Movement: Corn outperforms trade expectationsDec 04, 2023
Will 2024 be better?Dec 01, 2023