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| Release No. 0430.10 |
Contact:
Weldon Freeman
(202) 690-1384
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Agriculture Secretary Vilsack Announces Support for Rural Electric Infrastructure Improvements
Funds Will Benefit More Than 60,000 Rural Customers
WASHINGTON, Aug. 30, 2010 — Agriculture Secretary Tom Vilsack today announced that 37 rural utilities and cooperatives in 20 states have been selected to receive guaranteed loans that will benefit more than 60,000 rural electric cooperative consumers by financing the construction and repair of almost 7,000 miles of distribution and transmissions lines.
"USDA is investing in electric infrastructure improvements to provide reliable and affordable power to homes and business in rural America," Vilsack said. "These guaranteed loans will enable cooperatives to deliver better service to rural customers."
The $1.2 billion in funding is being awarded through USDA Rural Development's Electric Program. This program provides loans and guaranteed loans to electric utilities to upgrade, expand, maintain, and replace rural America's electric infrastructure. The Electric Program also helps fund energy conservation and renewable energy system projects.
For example, Sand Mountain Electric Cooperative in Rainsville, Ala., has been selected for a $17 million guaranteed loan to build or improve 249 miles of distribution line and make other system improvements to serve 4,258 new and existing consumers.
The Arkansas Electric Cooperative Corporation in Little Rock, Ark., has been selected for a $620,960,000 guaranteed loan. Funds will be used for system improvements and emission control projects to its existing generation facilities and will benefit residents in Arkansas, Louisiana, Missouri, Oklahoma, and Texas.
Funding of each recipient is contingent upon their meeting the conditions of the guaranteed loan agreement. The following is a list of rural utilities that were selected to receive funding.
Alabama
- Sand Mountain Electric Cooperative has been selected for a $17,000,000 guaranteed loan to serve 4,258 new and existing consumers, build 215 miles of new distribution line, make improvements to 34 miles of distribution line, and make other system improvements.
Arkansas and Oklahoma
- Arkansas Valley Electric Cooperative Corporation has been selected to receive a $60,000,000 guaranteed loan to serve 14,216 new and existing customers, build 365 miles of new distribution line and four miles of transmission line and make improvements to 118 miles of distribution line.
- Rich Mountain Electric Cooperative has been selected for a $12,500,000 guaranteed loan to serve 864 new and existing consumers, build 69 miles of new distribution line and one mile of transmission line, make improvements to 51 miles of distribution line, and make other system improvements.
Arkansas, Louisiana, Missouri, Oklahoma, and Texas
- Arkansas Electric Cooperative Corporation has been selected for a $620,960,000 guaranteed loan. Funds will be used for system improvements and emission control projects to its existing generation facilities.
Colorado
- Mountain View Electric Association, Inc. has been selected for a $58,688,000 guaranteed loan to serve 3,488 new and existing consumers, build 257 miles of new distribution line, make improvements to 147 miles of distribution line, and make other system improvements.
- K.C. Electric Association, Inc. has been selected for a $3,823,000 guaranteed loan to serve 256 new and existing consumers, build 26 miles of new distribution line, make improvements to 23 miles of distribution line, and make other system improvements.
- Grand Valley Rural Power Lines, Inc. has been selected to receive a $15,707,000 guaranteed loan to serve 449 existing consumers and build 40 miles of new distribution line.
Georgia
- Habersham Electric Membership Corporation has been selected for a $22,338,000 guaranteed loan to serve 3,699 new consumers, build 213 miles of new distribution line, make improvements to 31 miles of distribution line, and make other system improvements.
Iowa
- Maquoketa Valley Rural Electric Cooperative has been selected for a $3,000,000 guaranteed loan to serve 326 new consumers, build 34 miles of new distribution line, make improvements to 55 miles of distribution line, and make other system improvements.
Kentucky
- Jackson Energy Cooperative Corporation has been selected for a $20,000,000 guaranteed loan to serve 3,425 new consumers, build 152 miles of new distribution line, make improvements to 116 miles of distribution line, and make other system improvements.
- Meade County Rural Electric Cooperative Corporation has been selected for an $18,560,000 guaranteed loan to serve 1,425 new and existing consumers, build 60 miles of new distribution line, make improvements to 309 miles of distribution line, and make other system improvements.
- Clark Energy Cooperative, Inc. has been selected for a $14,000,000 guaranteed loan to serve 2,134 new consumers, build 104 miles of new distribution line, make improvements to 54 miles of distribution line, and make other system improvements.
Minnesota and Iowa
- Tri-County Electric Cooperative has been selected for a $25,000,000 guaranteed loan to serve 460 new and existing consumers, build 70 miles of new distribution line, make improvements to 79 miles of distribution line, and make other system improvements.
Minnesota
- Minnesota Valley Cooperative Light & Power Association has been selected for a $16,000,000 guaranteed loan to serve 181 new and existing consumers, build 40 miles of new distribution line and 27 miles of transmission line, make improvements to 36 miles of distribution line, and make other system improvements.
- Red River Valley Cooperative Power Association has been selected for an $8,000,000 guaranteed loan to serve 278 new and existing consumers, build 46 miles of new distribution line, make improvements to 41 miles of distribution line, and make other system improvements.
- Lake Country Power has been selected for a $72,000,000 guaranteed loan to serve 2,287 new and existing consumers, build 210 miles of new distribution line, make improvements to 231 miles of distribution line, and make other system improvements.
- Lake Region Electric Cooperative has been selected to receive a $13,400,000 guaranteed loan to serve 1,276 new and existing consumers, build 152 miles of new distribution line and make improvements to 25 miles of distribution line.
- Arrowhead Electric Cooperative has been selected to receive a $4,620,000 guaranteed loan to serve 140 new consumers, build 8 miles of new distribution line, and make improvements to 16 miles of distribution line.
Missouri
- Crawford Electric Cooperative, Inc. has been selected for a $16,000,000 guaranteed loan to serve 1,798 new and existing consumers, build 82 miles of new distribution line, make improvements to 51 miles of distribution line, and make other system improvements.
- Barry Electric Cooperative has been selected for a $3,370,000 guaranteed loan to serve 709 existing consumers, build 34 miles of new distribution line, and make other system improvements.
Montana
- Big Flat Electric Co-Op., Inc. has been selected for a $2,177,000 guaranteed loan to serve 140 new consumers, build 13 miles of new distribution line, make improvements to 88 miles of distribution line, and make other system improvements.
North Carolina
- Pee Dee Electric Membership Corporation has been selected for an $11,000,000 guaranteed loan to serve 1,654 new and existing consumers, build 125 miles of new distribution line, make improvements to 42 miles of distribution line, and make other system improvements.
- Brunswick Electric Membership Corporation has been selected for a $16,000,000 guaranteed loan to serve 3,007 existing consumers, build 113 miles of new distribution line, and make other system improvements.
- Randolph Electric Membership Corporation has been selected to receive a $25,000,000 guaranteed loan to serve 1,743 new and existing consumers, build 113 miles of new distribution line and nine miles of transmission lines and make improvements to 194 miles of distribution line.
New Mexico
- Roosevelt County Electric Cooperative, Inc. has been selected for a $16,412,000 guaranteed loan to serve 610 new and existing consumers, build 67 miles of new distribution line, make improvements to 33 miles of distribution line, and make other system improvements.
- The Socorro Electric Cooperative, Inc. has been selected for a $23,074,000 guaranteed loan to serve 1,482 new and existing consumers, build 344 miles of new distribution line and 16 miles of transmission line, make improvements to 75 miles of distribution line, and make other system improvements.
Ohio
- Holmes-Wayne Electric Cooperative, Inc. has been selected for an $11,000,000 guaranteed loan to serve 800 new consumers, build 44 miles of new distribution line, make improvements to 147 miles of distribution line, and make other system improvements.
Oklahoma
- Red River Valley Rural Electric Association has been selected for a $4,420,000 guaranteed loan to serve 656 existing consumers, build 30 miles of new distribution line, and make other system improvements.
- Cotton Electric Cooperative, Inc. has been selected to receive an $8,851,000 guaranteed loan to serve 365 existing customers, and build one mile of new distribution line.
Oklahoma and Texas
- Southwest Rural Electric Association, Inc. has been selected for a $4,494,000 guaranteed loan to serve 259 existing consumers, build 58 miles of new distribution line, and make other system improvements.
South Dakota
- Whetstone Valley Electric Cooperative, Inc. has been selected for a $3,974,000 to serve 200 new consumers, build 19 miles of new distribution line, make improvements to 53 miles of distribution line, and make other system improvements.
- FEM Electric Association, Inc. has been selected for a $7,354,000 guaranteed loan to serve 140 new consumers, build 27 miles of new distribution line, make improvements to 285 miles of distribution line, and make other system improvements.
- Douglas Electric Cooperative, Inc. has been selected for a $1,200,000 guaranteed loan to serve 24 new consumers, build seven miles of new distribution line, make improvements to 46 miles of distribution line, and make other system improvements.
Tennessee and Virginia
- Powell Valley Electric Cooperative has been selected for a $12,000,000 guaranteed loan to serve 3,448 new consumers, build 186 miles of new distribution line, make improvements to 52 miles of distribution line, and make other system improvements.
Texas
- Heart of Texas Electric Cooperative, Inc. has been selected for a $17,000,000 guaranteed loan to serve 1,837 new consumers, build 221 miles of new distribution line, make improvements to 395 miles of distribution line, and make other system improvements.
Virginia
- Southside Electric Cooperative has been selected for an $18,533,000 guaranteed loan to serve 2,577 new and existing consumers, build 264 miles of new distribution line and one mile of new transmission line, make improvements to 164 miles of distribution line, and make other system improvements.
Wisconsin
- Oconto Electric Cooperative has been selected to receive a $9,000,000 guaranteed loan to serve 380 new customers, build 30 miles of new distribution line and 15 miles of transmission line and make improvements to 94 miles of distribution line.
USDA, through its Rural Development mission area, administers and manages more than 40 housing, business and community infrastructure and facility programs through a national network of 6,100 employees located in the nation's capital and 500 state and local offices. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. Rural Development has an existing portfolio of nearly $142 billion in guaranteed loans and guaranteed loan guarantees.
USDA is an equal opportunity provider, employer and lender. To file a complaint of discrimination, write: USDA, Director, Office of Civil Rights, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (800) 795-3272 (voice), or (202) 720-6382 (TDD).
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