USDA announces $250,000 in electric loans to build infrastructure
May 30, 2017
CARSON CITY – Acting Deputy Undersecretary for Rural Development Roger Glendenning announced Thursday that USDA is providing more than $250,000 in loans for rural electric infrastructure improvements.
"These loans will help improve the delivery of reliable electricity, and will help ensure that rural areas nationwide can prosper economically and benefit from today's technologies to meet tomorrow's needs," Glendenning said
The loans are being provided through the Rural Utilities Service Electric Program, which is the successor to the Rural Electrification Administration. It makes loans and loan guarantees to cooperatives, corporations, states, territories, subdivisions, municipalities, utility districts and non-profit organizations to help finance the construction of electric distribution and generation facilities in rural areas.
The loans will support the construction or improvement of 1,369 miles of transmission and distribution line. They include $22.4 million for smart grid technologies to increase system efficiency and reliability. Smart Grid increases the reliability of electric power by helping utilities better manage power needs and supply, and improve operational efficiencies. It includes metering, substation automation, computer applications, two-way communications, geospatial information systems and other improvements.
More information about the Rural Utilities Service Electric Program is available online at https://www.rd.usda.gov/programs-services/electric-infrastructure-loan-loan-guarantee-program.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. This assistance supports infrastructure improvements; business development; homeownership; community services such as schools, public safety and health care; and high-speed internet access in rural areas. For more information, visit http://www.rd.usda.gov.