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USDA funds will finance 12 electric projects in 10 states
August 13, 2019
1 Min Read
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USDA is investing $181 million to upgrade rural electric systems in 10 states. The funding includes $7.7 million to finance smart grid technologies that improve system operations and monitor grid security.
USDA is providing financing for 12 projects in Arkansas, Georgia, Indiana, Iowa, Kansas, Kentucky, Ohio, South Dakota, Texas and Wisconsin through the Electric Loan Program. The funding will help build and improve 1,354 miles of line to improve electric reliability and resilience in rural areas.
Examples of where the money goes:
Ohio’s Buckeye Rural Electric Cooperative is receiving $19.7 million to build and improve 96 miles of line. The upgrades will serve 600 new customers. Buckeye also will invest $327,000 in smart grid technologies to increase system efficiency and resilience. It serves more than 18,600 customers over 2,500 miles of line in nine counties in eastern Ohio.
The Licking Valley Rural Electric Cooperative in West Liberty, Ky., is also receiving a $19.7 million loan. It will build and upgrade 74 miles of line and install nearly $338,000 in smart grid technologies. These investments will serve 17,300 consumers over 2,072 miles of line in Breathitt, Elliot, Lee, Magoffin, Menifee, Morgan, Rowan and Wolfe counties.
USDA will make additional funding announcements in coming weeks. Congress appropriated $5.5 billion for USDA’s Electric Loan Program in fiscal year 2019.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. For more information, visit www.rd.usda.gov.
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.
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