WASHINGTON, DC – The U.S. Department of Agriculture says it’s giving a $17.8 million loan to the Freeborn-Mower Electric Cooperative.
The money is supposed to go toward building 79 new miles of power lines, improving 94 miles of existing lines, and making other system improvement. The loan includes $313,392 for “smart grid” projects to allow the electrical system to respond digitally to changing power demands.
The loan is part of a total $345.5 million being invested in 20 electric infrastructure projects in 14 states.
“Delivering reliable and affordable electricity to power rural America will help lay the groundwork for increased rural prosperity and economic opportunity,” says U.S. Ag Secretary Sonny Perdue said. “USDA is partnering with rural electric utilities and cooperatives so they can continue to invest in infrastructure improvements to provide electric power to those who live and work in rural areas.”
The Goodhue County Electric Cooperative Association will also get a $7.75 million loan to construct 28 miles of line and improve 72 miles, including $315,000 for “smart grid” projects.
These loans are being made through the Electric Infrastructure Loan Program, which helps finance generation, transmission and distribution projects, system improvements, and energy conservation projects in communities with 10,000 or fewer residents.
For more information on this federal loans, click here.
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