Florida Coop to Receive $24.1 Million for Hurricane Michael Expenses
Posted on May 1, 2019 in Financing | Comments Off on Florida Coop to Receive $24.1 Million for Hurricane Michael Expenses
West Florida Electric Cooperative Association will receive $24.1 million from the Federal Emergency Management Agency (FEMA) for reimbursement of Hurricane Michael expenses. FEMA’s Public Assistance Program is an essential source of funding for communities recovering from federally-declared disasters or...
USDA Accepting Applications for Funding Through ReConnect
Posted on Apr 30, 2019 in Financing, Technology | Comments Off on USDA Accepting Applications for Funding Through ReConnect
The United States Department of Agriculture (USDA) recently established a loan and grant-based program to strengthen broadband in rural America. The program, known as the ReConnect Rural Broadband Pilot Program (ReConnect), will make at least $600 million available in rural broadband projects through the first round of...
Bipartisan Bill Could Boost Financing for Cooperatives
Posted on Mar 7, 2019 in Financing, Legislative & Politics | Comments Off on Bipartisan Bill Could Boost Financing for Cooperatives
The National Rural Electric Cooperative Association is working with a bipartisan group of lawmakers in Congress to pass legislation that would give electric cooperatives access to more money to modernize their plants and reduce costs for consumer-members. The proposed Improving Rural Access to Power Act would allow the Federal Home Loan Bank to voluntarily buy securities issued by a...
Report Shows Electric Cooperatives Fuel Economy
Posted on Mar 7, 2019 in Financing | Comments Off on Report Shows Electric Cooperatives Fuel Economy
Electric cooperatives have a broad financial impact on the United States, directly or indirectly supporting nearly 612,000 jobs each year and contributing hundreds of billions of dollars to the economy over a five-year period, according to a new analysis. “This report quantifies what many rural American families and businesses know well—electric cooperatives are powerful engines of...
Indiana Cooperative Receiving $10.5 Million Loan
Posted on Mar 7, 2019 in Financing, Grid & Infrastructure, Technology | Comments Off on Indiana Cooperative Receiving $10.5 Million Loan
Southern Indiana Power is receiving a $10.5 million federal loan to build or improve 92 miles of line to enhance system operations for 600 rural consumers. The loan also includes funds for smart grid technologies.
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...
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