USDA Announces Over $309 Million In Electric Loans To Thirteen States
The loans will provide funds for construction of over 3,000 miles of transmission and distribution lines.
Compiled by staff
Published: Aug 28, 2006
USDA announced that $309,393,000 in electric loans will be provided to utilities in 13 states to provide improved services to an estimated 36,629 customers.
The loans will provide funds for construction of over 3,000 miles of transmission and distribution lines. States receiving funding are: Ala., Ark., Colo., Ga., Kan., Minn., Mo., Iowa, Neb., N.C., Okla., Texas, and Wyo. The Rutherford Electric Membership Corporation of Forest City, North Carolina, will build over 400 miles of distribution lines to serve 7,655 new customers in 10 counties. The Crawford Electric Cooperative in Bourbon, Missouri, will build 107 miles of line to serve 1,819 new customers. A complete list of the loan recipients is available at: www.rurdev.usda.gov.
USDA Rural Development Electric Programs provide leadership and capital to upgrade, expand, maintain, and replace America's rural electric infrastructure. Under the authority of the Rural Electrification Act of 1936, the Electric Programs make direct loans and loan guarantees to electric utilities to serve customers in rural areas. The loans and loan guarantees finance the construction of electric distribution, transmission, and generation facilities, including system improvements and replacement required to furnish and improve electric service in rural areas. Through its electric programs, the federal government has provided funding to about 700 electric system borrowers in 46 states.
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