Texas Electric Cooperative to Receive $50 Million Loan
Posted on Nov 20, 2018 in Financing | Comments Off on Texas Electric Cooperative to Receive $50 Million Loan
Congressman Vicente Gonzalez recently announced that the U.S. Department of Agriculture (USDA) has awarded a loan of $50,000,000 to San Miguel Electric Cooperative (San Miguel). This loan will allow San Miguel to make certain system improvements for a lignite-fired steam electric generating...
USDA Announces Investments to Improve Rural Electric Infrastructure
Posted on Nov 12, 2018 in Financing, Grid & Infrastructure | Comments Off on USDA Announces Investments to Improve Rural Electric Infrastructure
The U.S. Department of Agriculture (USDA) recently announced that it is investing $1.6 billion in 46 rural electric utility infrastructure projects across the country. These investments will help contribute to a stronger rural electric system by improving operations and reliability in 24 states. This funding will help build or improve 5,833 miles of line, will include $307 million in...
Iowa Cooperative Helps Fund Hospital Expansion
Posted on Oct 18, 2018 in Financing | Comments Off on Iowa Cooperative Helps Fund Hospital Expansion
Chariton Valley Electric Cooperative (CVEC), an Iowa electric cooperative, has partnered with Northeast Power to provide a $4,687,000 loan to Monroe County Hospital for the expansion of the hospital. CVEC secured funds for the loan from the USDA Rural...
FEMA Approves Grant for Repairs of Utility Infrastructure
Posted on Oct 8, 2018 in Financing, Grid & Infrastructure | Comments Off on FEMA Approves Grant for Repairs of Utility Infrastructure
The Federal Emergency Management Agency (FEMA) recently approved a $1,743,876 grant to Vermont Electric Cooperative for the repair of 54 transformers and 2,887 miles of transmission and distribution electric conductor line poles damaged by severe storm and flooding in October 2017. This grant is funded through FEMA’s Public Assistance Program which provides grant reimbursement to...
NWEC Receives $8 Million Loan for Infrastructure Improvements
Posted on Sep 25, 2018 in Financing, Grid & Infrastructure | Comments Off on NWEC Receives $8 Million Loan for Infrastructure Improvements
The U.S. Department of Agriculture has announced that North Western Electric Cooperative (NWEC) will receive an $8 million federal loan to build and improve power lines in northwest Ohio. NWEC will use the loan to build 20 miles of new line and improve 40 miles of existing line, which is expected to bring 140 additional consumers to a system which currently serves more than 6,000 rural...
Shelby Electric Secures Loan for Local Manufacturer
Posted on Sep 25, 2018 in Financing | Comments Off on Shelby Electric Secures Loan for Local Manufacturer
Shelby Electric Cooperative (Shelby Electric) assisted IHI Turbo America, a designer and manufacturer of diesel, gasoline and natural gas turbocharger products, in receiving a $2 million loan from the USDA Rural Economic Development Loan and Grant program. The interest-free loan will help the manufacturer fund a 250,000-square-foot facility...
Lewis County Electric Coop Receives Funds to Upgrade Power Lines
Posted on Aug 23, 2018 in Financing | Comments Off on Lewis County Electric Coop Receives Funds to Upgrade Power Lines
The Lewis County Rural Electric Cooperative Association received $12.3 million for a 4-year project to upgrade some of its power lines. These funds are a loan and not a grant. The Missouri electric cooperative intends to pay back the loan through revenue generated from its...
USDA Announces New Loans for Electric Cooperatives
Posted on Aug 21, 2018 in Financing | Comments Off on USDA Announces New Loans for Electric Cooperatives
On August 6, 2018, the U.S. Department of Agriculture (USDA) announced that 19 electric cooperatives will receive a total of nearly $350 million in a new round of loans for infrastructure improvements, new power lines, and smart grid technologies. The loans are being made through the USDA’s Electric Infrastructure Loan and Loan Guarantee program which helps finance generation,...
Cooperative and Origis Unveil Mississippi Solar Project
Posted on Mar 9, 2018 in Environmental, Financing, Innovation/Efficiency, Project Development, Renewable Energy, Technology | Comments Off on Cooperative and Origis Unveil Mississippi Solar Project
Cooperative Energy and Origis Energy celebrated their new joint venture 52 MW solar project near Sumrall in Lamar County, Mississippi, signifying a major commitment to generating renewable energy. The project, MS Solar 3, is built on a 540-acre site, and includes 206,000 polycrystalline solar panels that gather sunlight and transform it to energy that will power up to 11,400...
New Hampshire Cooperative Seeking FEMA Reimbursement
Posted on Jan 5, 2018 in Financing, Grid & Infrastructure, Regulation & Policy | Comments Off on New Hampshire Cooperative Seeking FEMA Reimbursement
President Trump has granted a request for a major disaster declaration in Belknap County, New Hampshire and elsewhere for an October 29, 2017 – November 1, 2017 storm that brought flooding rains and damaging winds. The declaration will free up funding from the Federal Emergency Management Agency (FEMA) to government entities and some private nonprofits for up to 75 percent of the...
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