WASHINGTON, April 22, 2008 —Agriculture Secretary Ed Schafer today announced the selection of 30 rural utilities and cooperatives for new electric lines and system improvements in 20 states. The loans announced today will finance the construction and repair of nearly 8,000 miles of transmission and distribution lines benefiting almost 100,000 rural electric cooperative consumers.
"Investment in our nation's electric infrastructure is necessary to meet our future energy needs," said Schafer. "These loans will help expand and maintain access to reliable, affordable power by financing improvements for key generation, transmission and distribution service to rural electric consumers."
About $623 million in loans will finance energy conservation and renewable energy systems as well as establish and improve electric service in rural areas.
For example, Greystone Power Corporation, in Douglasville, Ga. will receive $111 million to build 1,370 miles of new distribution line and 144 miles of improvements for 32,985 consumers in an eight-county area west of metropolitan Atlanta.
In Alabama, the Baldwin County Electric Membership Corporation will receive a $35.7 million loan to build nearly 300 miles of new line and make improvements to 110 miles of existing lines serving 12,162 consumers. The Baldwin cooperative serves customers in a two-county area bordering the Gulf of Mexico and the Florida panhandle.
The Utilities District of Western Indiana Rural Electric Membership Corporation has been selected for an $11 million loan to build and repair 108 miles of distribution and transmission lines serving 1,200 customers.
The funding is being awarded through USDA Rural Development's Utilities Programs, which Congress authorized under the Rural Electrification Act of 1936. USDA Rural Development has awarded approximately $28 billion in electric loans since 2001.
Funding of these individual recipients is contingent upon their meeting the conditions of the loan agreement:
Borrower
State
Loan Amount
Baldwin County Electric Membership Corporation
AL
$35,725,000
Woodruff Electric Cooperative Corporation
AR
$26,000,000
Arizona Electric Power Cooperative, Inc.
AZ,CA, NM
$38,180,000
West Florida Electric Cooperative Association, Inc.
FL
$5,100,000
Habersham Electric Membership Corporation
GA
$19,112,000
Irwin Electric Membership Corporation
GA
$9,500,000
Greystone Power Corporation
GA
$111,738,000
The Carroll Electric Membership Corporation
GA
$72,505,000
Planters Electric Membership Corporation
GA
$7,000,000
Utilities District of Western Indiana Rural Electric Membership Corporation
IN
$11,000,000
Southwest Rural Electric Cooperative
IA
$1,648,000
Rolling Hills Electric Cooperative, Inc.
KS
$3,841,000
Radiant Electric Cooperative, Inc.
KS
$7,300,000
Ninnescah Rural Electric Cooperative Assoc.
KS
$4,522,000
Farmers Electric Cooperative
MO
$14,263,000
Northeast Missouri Electric Power Cooperative
MO, IA
$23,790,000
Howell-Oregon Electric Cooperative
MO
$18,600,000
Tri-County Electric Cooperative Association
MO
$7,500,000
Cape Hatteras Electric Membership Corporation
NC
$11,000,000
North Carolina Electric Membership Corporation
NC
$42,000,000
Mora-San Miguel Electric Cooperative, Inc.
NM
$5,807,000
Central Rural Electric Cooperative
OK
$9,750,000
Pee Dee Electric Cooperative, Inc.
SC
$20,412,000
Black Hills Electric Cooperative, Inc.
SD
$17,189,000
Moreau-Grand Electric Cooperative, Inc.
SD
$7,625,000
Cumberland Electric Membership Corporation
TN
$57,000,000
Plateau Electric Cooperative
TN
$9,000,000
Craig-Botetourt Electric Cooperative
VA, WV
$3,482,000
Rappahannock Electric Cooperative
VA
$13,352,000
Jackson Electric Cooperative
WI
$9,384,000
USDA Rural Development's mission is to increase economic opportunity and improve the quality of life for rural residents. Rural Development has invested more than $91 billion since 2001 for equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. More than 1.7 million jobs have been created or saved through these investments. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at http://www.rurdev.usda.gov
