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WASHINGTON, Oct. 19, 2012 – Agriculture Secretary Tom Vilsack today announced funding to modernize and improve the efficiency of rural electric generation and transmission systems. Several of the loans contain support for smart grid projects.
"USDA and the Obama Administration continue to fund electric projects to improve system reliability and efficiency for rural businesses and residential consumers," Vilsack said. "A strong American economy is contingent upon a strong rural economy. Infrastructure investments like these will promote job growth."
Secretary Vilsack announced in August that USDA had met its goal to finance $250 million in smart grid technologies in fiscal year 2012. Today's $107.5 million in loan guarantees includes nearly $3 million in smart grid technologies. The loan guarantees are provided by USDA Rural Development's Rural Utilities Service. USDA also funds energy conservation and renewable energy 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.
Arizona, California and New Mexico
- Arizona Electric Power Cooperative, Inc.: $34,028,000. Funds will be used to finance generation system improvements for the Apache Station. The loan includes $2,052,000 in environmental improvements.
Georgia
- Satilla Rural Electric Membership Corporation: $13,000,000. Funds will be used to serve 4,517 customers, build and improve almost 400 miles of distribution line, and make other system improvements.
Iowa
- Clarke Electric Cooperative, Inc.: $4,200,000. Funds will be used to serve over 100 customers, build seven miles of distribution line, and make other system improvements. The loan includes $684,476 for storm damage restoration.
Kansas
- Kaw Valley Electric Cooperative, Inc.: $8,860,000. Funds will be used to serve over 400 customers, build and improve about 100 miles of distribution line, and make other system improvements.
North Dakota
- Central Power Electric Cooperative, Inc.: $5,024,000. Funds will be used to build a new headquarters facility.
- McLean Electric Cooperative, Inc.: $9,500,000. Funds will be used to serve 563 customers, build and improve over 100 miles of distribution line, and make other system improvements. The loan includes $169,600 in smart grid projects.
- Northern Plains Electric Cooperative: $25,214,000. Funds will be used to serve over 500 customers, build and improve 320 miles of distribution line, and make other system improvements. The loan includes $2,422,000 in smart grid projects.
Wisconsin
- Jump River Electric Cooperative, Inc.: $7,700,000. Funds will be used to serve 462 customers, build and improve 64 miles of distribution line, and make other system improvements. The loan includes $314,658 in smart grid projects.
For information on Rural Development projects throughout the country, please visit the agency's new interactive web map at: http://www.rurdev.usda.gov/RDSuccessStories.html. The map features program funding and success stories for fiscal years 2009-2011.
President Obama's plan for rural America has brought about historic investment and resulted in stronger rural communities. Under the President's leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America's economy, small towns and rural communities. USDA's investments in rural communities support the rural way of life that stands as the backbone of our American values. President Obama and Agriculture Secretary Tom Vilsack are committed to a smarter use of Federal resources to foster sustainable economic prosperity and ensure the government is a strong partner for businesses, entrepreneurs and working families in rural communities.
USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure programs through a national network of state and local offices. Rural Development has an active portfolio of more than $174 billion in loans and loan guarantees. 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.
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