WASHINGTON, Oct. 23, 2008 —Agriculture Secretary Ed Schafer today announced the selection of 33 rural utilities and cooperatives in 26 states to receive $1.8 billion in loans to build and repair 7,600 miles of distribution and transmission lines serving more than 90,000 rural customers.
"USDA partners with utilities across the country to ensure the delivery of affordable, reliable electrical power to rural communities," Schafer said. "These loans are investments that will spur or expand development opportunities and enhance the economic competitiveness for rural areas as good places to live and work."
The funding is being provided through USDA Rural Development's Utilities
Programs, which Congress authorized under the Rural Electrification Act of 1936.
For example, the Coast Electric Power Association in St. Louis, Miss., has been selected to receive a $7.3 million loan to build two miles of improved distribution line, purchase meters and transformers, and make other system repairs resulting from damage caused by Hurricane Katrina.
A& N Electric Cooperative in Tasley, Va., has been selected to receive a $51 million loan to build and make improvements to 1,158 miles of new and upgraded distribution line serving 23,301 customers. Dairyland Power Cooperative, La Crosse, Wis., was selected to receive a $195.5 million loan to finance additions, upgrades and modifications to existing and new generation facilities serving customers in Illinois, Iowa, Michigan, Minnesota and Wisconsin.
USDA Rural Development has awarded approximately $31 billion in electric loans since 2001. Funding of each recipient is contingent upon its meeting the conditions of the loan agreement. A complete list of the selected recipients follows.
2008 Electric Loan Recipients
State |
Borrower |
Loan Amount |
AL |
South Alabama Electric Cooperative |
$25,523,000 |
AL |
Covington Electric Cooperative, Inc. |
$33,674,000 |
AL |
Central Alabama Electric Cooperative |
$44,089,000 |
AL |
Wiregrass Electric Cooperative |
$20,637,000 |
CA, NV |
Plumas-Sierra Rural Electric Cooperative |
$7,900,000 |
CO, NE, NM WY |
Tri-State Generation and Transmission Assn. Inc. |
$142,015,000 |
CO, NM |
La Plata Electric Association |
$20,514,000 |
FL |
Peace River Electric Cooperative, Inc. |
$64,903,000 |
IA |
Western Iowa Power Cooperative |
$1,633,000 |
IA |
Prairie Energy Coop. |
$12,000,000 |
IL |
Illinois Rural Electric Cooperative |
$15,879,000 |
IN |
Hoosier Energy Rural Electric Cooperative |
$195,000,000 |
KY |
Jackson Energy Cooperative Corporation |
$19,695,000 |
KY |
Fleming-Mason Electric Cooperative, Inc. |
$10,934,000 |
KY |
Licking Valley Rural Electric Cooperative Corporation |
$11,978,000 |
ME |
Eastern Maine Electric Cooperative, Inc. |
$4,764,000 |
MI |
Alger-Delta Co-operative Electric Association |
$7,000,000 |
MI |
Thumb Electric Cooperative |
$13,000,000 |
MI, IN, OH |
Midwest Energy Cooperative |
$20,000,000 |
MN |
Meeker Cooperative Light & Power Association |
$12,000,000 |
MO |
Gasconage Electric Cooperative |
$5,577,000 |
MS |
Coast Electric Power Association |
$7,324,000 |
ND |
Nodak Electric Cooperative, Inc. |
$32,500,000 |
OH |
Carroll Electric Cooperative, Inc. |
$8,000,000 |
OK |
Red River Valley Rural Electric Association |
$5,515,000 |
SC |
Mid-Carolina Electric Cooperative, Inc. |
$69,814,000 |
SD, NE |
Lacreek Electric Association, Inc. |
$5,660,000 |
TX |
Brazos Electric Power Cooperative, Inc. |
$695,692,000 |
TX |
Deep East Texas Electric Cooperative, Inc. |
$25,572,000 |
TX |
Bartlett Electric Cooperative, Inc. |
$7,220,000 |
VA |
Southside Electric Cooperative |
$22,000,000 |
VA, MD |
A&N Electric Cooperative |
$51,000,000 |
WI, IA, IL, MI, MN |
Dairyland Power Cooperative |
$195,564,000 |
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 $110 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 2 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 Rural Development's web site at http://www.rurdev.usda.gov .
|