Ten Electric Cooperatives Awarded Funding for Transmission, Distribution and Smart Grid Improvements
Posted on Apr 6, 2011 in Energy Savings Programs, Financing, Grid & Infrastructure, Innovation/Efficiency | Comments Off on Ten Electric Cooperatives Awarded Funding for Transmission, Distribution and Smart Grid Improvements
According to a USDA news release, the $376 million awarded as loans to coops will promote efficiency and improve reliability for more than 20,000 coop customers. The loans include almost $14 million for smart grid technologies.
Undersea Transmission Line Incentives Draw Opposition
Posted on Mar 30, 2011 in Financing, Project Development, Renewable Energy | Comments Off on Undersea Transmission Line Incentives Draw Opposition
The National Rural Electric Cooperative Association and several state public utility commissions are among those challenging Atlantic Wind Connection’s request to the Federal Energy Regulatory Commission to grant specific incentives for a 300-mile undersea transmission line development project that will link power produced by wind turbines off the East Coast to the mainland. The...
Cooperatives Consider Investment In Planned MidAmerican Nuclear Facility
Posted on Mar 29, 2011 in Financing, Legislative & Politics, Project Development | Comments Off on Cooperatives Consider Investment In Planned MidAmerican Nuclear Facility
Municipal utilities and electric cooperatives in Iowa are showing support for the passage of a state legislative bill that would help finance nuclear development. MidAmerican, one of the largest privately-owned utilities in the state, plans to build a new nuclear facility in the wake of increased federal oversight and resulting costs associated with coal-fired plants. Several...
Surge in Demand Thanks to Oil Field Development
Posted on Mar 28, 2011 in Financing, Project Development | Comments Off on Surge in Demand Thanks to Oil Field Development
Rural electric cooperatives in North Dakota face increased demand for power and transmission lines due to the rapid development of oil fields and a corresponding workforce in the western area of the state. Cooperatives are projected to invest heavily over the next three years in an effort to serve the rising presence of oil reports The Bismarck Tribune.
City of Great Falls Looks to Withdraw From Southern Montana Coop
Posted on Mar 14, 2011 in Economic Downturn, Financing | Comments Off on City of Great Falls Looks to Withdraw From Southern Montana Coop
Tensions have been rising between the city of Great Falls, Montana, and Billings-based Southern Montana Electric Generation and Transmission Cooperative as the city looks for ways to exit from Southern Montana. A special meeting has been set for Tuesday, March 15, between city officials and representatives of Southern Montana to discuss possible exit plans. Southern Montana is...
USDA Awards Funding Through RUS
Posted on Mar 8, 2011 in Financing | Comments Off on USDA Awards Funding Through RUS
The United States Department of Agriculture (USDA) has announced that it will provide $442 million in funding through its Rural Development’s Rural Utilities Service (RUS). This will result in rural electric cooperatives in eight states upgrading services to over 24,000 rural consumers with loan guarantees provided by USDA. The Gov Monitor has additional details as well as a state by...
Basin Electric Power Cooperative Rating Downgraded by Fitch
Fitch Ratings downgraded Basin Electric Power Cooperative to ‘A+/F1’; Outlook Stable based in part on declining profits from its subsidiary, Dakota Gasification Company. Although Basin continues to show strength in many areas, Fitch expects that Basin’s board will vote to increase rates to stabilize its financial condition. See Business Wire for more.USDA Announces $204 Million Loan Guarantee for PrairieWinds SD 1 Project
Posted on Feb 16, 2011 in Financing, Renewable Energy | Comments Off on USDA Announces $204 Million Loan Guarantee for PrairieWinds SD 1 Project
Basin Electric Power Cooperative is to receive a guarantee of 60% of its $340 million dollar PrairieWinds SD 1 project from the USDA’s Rural Utilities Service. For details see the US Department of Energy’s EERE News.
Socorro Electric Cooperative in Technical Default on RUS Loans
Socorro Electric Cooperative failed to meet its profit levels for the second year in a row. To avoid default on its $52 million in federal loans, the New Mexico cooperative plans to raise rates and implement other cost-saving measures. Socorro Electric is seeking an average rate increase of 6.95 percent. The El Defensor Chieftain is following this story.Bank of America Merrill Lynch Shopping Mortgage Bond Deal for Old Dominion Electric Cooperative
Posted on Jan 17, 2011 in Financing | Comments Off on Bank of America Merrill Lynch Shopping Mortgage Bond Deal for Old Dominion Electric Cooperative
Private Placement Letter has the details on the transaction. (subscription required)
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