/ Electric Grid / USDA Announces Smart Grid Funding For Rural Electric Co-ops

USDA Announces Smart Grid Funding For Rural Electric Co-ops

Matt Ball on July 16, 2012 - in Electric Grid, Energy, Projects

The U.S. Department of Agriculture (USDA) has 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,” Agriculture Secretary Tom Vilsack says, adding that with this funding, USDA Rural Development moves closer to reaching a goal to provide $250 million in funding for smart grid technologies.

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.

The funding announcement also includes a $24 million loan guarantee for the Midwest Energy Cooperative in Cassopolis, Mich. The utility plans to build and upgrade 208 miles of distribution and transmission line. The loan includes $788,410 in smart grid projects.

The Surry-Yadkin Electric Membership Corp. in Dobson, N.C., 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.

For a complete list of recipients, visit usda.gov.

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