Agriculture Secretary Vilsack Announces Funding to Improve Rural Electric Infrastructure Agriculture Secretary Tom Vilsack announced that rural electric cooperatives and utilities in 15 states will receive loan guarantees to make improvements to generation and transmission facilities
PoliticalNews.me - Jul 12,2012 - Agriculture Secretary Vilsack Announces Funding to Improve Rural Electric Infrastructure
Funding Includes $10 Million for Smart Grid Technology
WASHINGTON, – Agriculture Secretary Tom Vilsack announced that rural electric cooperatives and utilities in 15 states will receive loan guarantees to make improvements to generation and transmission facilities and implement smart grid technologies.
"Maintaining and upgrading rural electric systems creates jobs and supports economic development," Vilsack said. "These loans I am announcing today will have a lasting impact on the rural landscape for generations to come. They will help ensure that rural areas can retain existing businesses, support new ones and have reliable, up-to-date infrastructure."
With this funding, USDA Rural Development moves closer to reaching Secretary Vilsack's goal to fund more than $250 million for smart grid technologies. Today's announcement includes support for more than $10 million in smart grid technologies, which help utilities make efficiency improvements to the electric grid and help consumers lower their electric bills by reducing energy use in homes and businesses.
Corn Belt Power Cooperative in Iowa will use funds to finance advanced technology generation system improvements that increase efficiencies and manage costs. The nearly $55.8 million loan guarantee also includes $22.8 million in environmental improvement projects.
Today's funding announcement also includes a $24 million loan guarantee for the Midwest Energy Cooperative in Cassopolis, MI. The utility plans to build and upgrade 208 miles of distribution and transmission line. The loan includes $788,410 in smart grid projects.
In Dobson, NC, the Surry-Yadkin Electric Membership Corporation won a $20 million loan guarantee to build and improve 114 miles of distribution and transmission line that will serve nearly 1,500 customers. This loan includes $1.4 million for smart grid projects.
The following is a list of rural utilities that will receive USDA funding, which is contingent upon the recipient meeting the terms of the loan agreement.
Georgia
• Colquitt Electric Membership Corporation – $20,000,000. Funds will be used to build and improve 478 miles of distribution line and make other system improvements, serving 3,284 customers.
Illinois
• Rural Electric Convenience Cooperative, Inc. – $7,900,000. Funds will be used to build and improve 45 miles of distribution line and make other system improvements, serving 229 customers. The loan includes $54,500 for smart grid projects.
Iowa
• Corn Belt Power Cooperative – $55,788,000. Funds will be used to finance generation system improvements and minority ownership in the Walter Scott Jr. Energy Center Unit 4. The loan includes $22,838,826 in environmental improvement projects.
• Maquoketa Valley Rural Electric Cooperative – $3,250,000. Funds will be used to build and improve 252 miles of distribution line and make other system improvements, serving 635 customers. The loan includes $220,000 in smart grid projects.
Kansas
• The Ninnescah Rural Electric Cooperative Association, Inc. – $9,670,000. Funds will be used to build and improve 410 miles of distribution line and make other system improvements, serving 359 customers. The loan includes $550,000 in smart grid projects.
Kentucky
• Licking Valley Rural Electric Cooperative Corporation – $19,726,000. Funds will be
