190 Electric Coops Qualify to Bid at FCC’s $16 Billion Broadband Auction
Posted on Oct 27, 2020 in Broadband | Comments Off on 190 Electric Coops Qualify to Bid at FCC’s $16 Billion Broadband Auction
About 190 electric cooperatives have qualified to compete for up to $16 billion in the Federal Communications Commission’s (FCC) largest reverse auction to fund broadband internet for unserved areas across the country. Winning bidders will receive funds over a 10-year period to deploy broadband to unserved census blocks identified by the FCC.
The Georgia Solution: a Plan to Spur Broadband Deployment
Posted on Oct 27, 2020 in Broadband | Comments Off on The Georgia Solution: a Plan to Spur Broadband Deployment
The Georgia Solution, which was filed with the Georgia Public Service Commission as part of a rate case that involves fees that cable companies would pay to connect to the electric cooperatives’ utility poles, is aimed at encouraging rural broadband deployments by cable companies and other providers. There are two key parts to the Georgia Solution — the One Buck Deal and the Georgia...
Gas South Plans to Acquire Infinite Energy
Posted on Oct 26, 2020 in Mergers/Acquisitions | Comments Off on Gas South Plans to Acquire Infinite Energy
Gas South, a Cobb County, Georgia-based natural gas marketer and a subsidiary of electric cooperative Cobb EMC, is planning to acquire Infinite Energy, based in Gainesville, Florida. The headquarters for Gas South will remain in Cobb County, where the business employs about 240 people, but the company said it would retain a presence in Gainesville, Florida, where most of...
Several Cooperative Agricultural and Rural Infrastructure Banks Ranked World’s Safest for 2020
Posted on Oct 23, 2020 in Financing | Comments Off on Several Cooperative Agricultural and Rural Infrastructure Banks Ranked World’s Safest for 2020
Several cooperative agricultural and rural infrastructure banks, including CoBank, made the Global Finance World’s 50 Safest Banks annual ranking for 2020. The rankings have long been recognized as a trusted standard for individuals and investors to gauge the financial safety of banks.
Entities Consider Purchase of Coal Creek Plant, with Sustainable Enhancements
Posted on Oct 16, 2020 in Mergers/Acquisitions | Comments Off on Entities Consider Purchase of Coal Creek Plant, with Sustainable Enhancements
At least two entities are considering purchasing Great River Energy’s 1,147-MW Coal Creek plant, which was slated for retirement in the second half of 2022. The purchasers are considering operating the plant with enhancements such as carbon capture and storage technologies and building energy storage and wind generation in the area.
Ubiquity Announces Acquisition of Dallas-Fort Worth Broadband Provider
Posted on Oct 12, 2020 in Grid & Infrastructure, Technology | Comments Off on Ubiquity Announces Acquisition of Dallas-Fort Worth Broadband Provider
Ubiquity Management, LP (Ubiquity), an investor in critical communications infrastructure throughout the United States, recently announced that it has completed the acquisition of Millennium Telcom, LLC d/b/a OneSource Communications, a provider of fiber-fed broadband services in the Dallas-Fort Worth metro area, from Tri-County Electric Cooperative. OneSource’s fiber network is within...
Missouri Rural Electric Coops to Receive $5.5 Million in Economic Development Support
Posted on Oct 9, 2020 in Economic Development | Comments Off on Missouri Rural Electric Coops to Receive $5.5 Million in Economic Development Support
The Trump Administration and Department of Agriculture Rural Development State Director for Missouri announced that eight rural electric cooperatives in Missouri will receive $5.5 million to create jobs and increase economic opportunities throughout the state. The funding will support infrastructure improvements, business development, housing and high-speed internet access in rural...
Members Reject Proposed Merger of Kansas Electric Cooperatives
Posted on Oct 5, 2020 in Corporate Governance, Mergers/Acquisitions | Comments Off on Members Reject Proposed Merger of Kansas Electric Cooperatives
A proposed merger of two northeast Kansas electric cooperatives was recently rejected by coop members. The Boards of Trustees for Nemaha-Marshall Electric Cooperative Association in Axtell, Kansas and Doniphan Electric Cooperative Association in Troy, Kansas had unanimously approved taking the proposed consolidation to their members. Kansas law requires that each cooperative receive at...
NRECA Receives DOE Funding to Strengthen Cybersecurity
Posted on Oct 2, 2020 in Cybersecurity | Comments Off on NRECA Receives DOE Funding to Strengthen Cybersecurity
The National Rural Electric Cooperative Association (NRECA) will use $6 million in Department of Energy (DOE) funding to develop and deliver its cybersecurity tool, Essence, to cooperatives nationwide. Essence continually monitors for cyber threats and enables the utility industry to share characteristics of an incident to help detect large, coordinated cyberattacks.
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