Two Kansas projects are among the latest in a series of projects to win loan guarantees to rinqnd3 improved efficiency and modernization of rural electric generation and transmission systems.
The Victory Electric Cooperative Association, Inc. gets a loan guarantee of $37,000,000. Funds will be used to serve 831 consumers, build and improve 143 miles of distribution line and 142 miles of transmission line, and make other system improvements. The loan amount includes $2,430,500 in smart grid projects.
Twin Valley Electric Cooperative, Inc. will get a loan guarantee for $7,200,000. Funds will be used to serve 603 consumers, build and improve 56 miles of distribution line, and make other system improvements. The loan amount includes $675,000 in smart grid projects.
"These loan guarantees will bring expanded, modern electric services to rural businesses and residential customers," said U.S. Secretary of Agriculture Tom Vilsack. "Several of the loans include funding to help utilities and cooperatives adopt smart grid technologies to modernize electric systems."
Vilsack announced earlier this month that USDA met its goal to finance $250 million in smart grid technologies in fiscal year 2012. Today's announcement includes support for nearly $10 million in smart grid technologies.
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.
In addition to the Kansas projects, the federal loan program will help modernize electricial service to cooperatives in Georgia, Minnesota, Iowa, Missouri, Oklahoma, Nebraska, Texas and Virginia.
The $168 million in loan guarantees most recently announced today are provided by USDA Rural Development's Rural Utilities Service. The funding helps electric utilities upgrade, expand, maintain and replace rural America's electric infrastructure. USDA Rural Development also funds energy conservation and renewable energy projects.
For information on other RD projects, please visit Rural Development'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.