| Luján Highlights $8.3 Million Rural Development Loan Guarantee for Mora-San Miguel Electric Cooperative |
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Tuesday, October 9, 2012 Santa Fe, NM – Congressman Ben Ray Luján of New Mexico’s Third District highlighted a loan guarantee for Mora-San Miguel Electric Cooperative through the Department of Agriculture Rural Development’s Rural Utilities Service. The loan guarantee of $8,374,000 will be used to serve 772 consumers, build and improve 122 miles of distribution line, and make other system improvements. The loan amount includes $120,000 in smart grid projects. “Providing a source of reliable energy to rural communities is vital to the economic development of Mora and San Miguel counties,” Congressman Luján said. “These funds will help improve service and enhance efforts to invest in smart grid technologies that can reduce energy use and lower costs for customers by providing them with greater control over their energy usage.” The loan guarantee for Mora-San Miguel Electric Cooperative is part of the Department of Agriculture’s effort to finance $250 million in smart grid technologies in fiscal year 2012. The announcement includes support for $9.8 million in smart grid technologies across the country. # # # |
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