USDA AWARDS MORE THAN $1.6 BILLION IN ELECTRIC LOANS
WASHINGTON, Oct. 26, 2007 — Acting Agriculture Secretary Chuck Conner today announced more than $1.6 billion in electric loans to finance 1,500 miles of new line, upgrades of nearly 1,000 miles of existing line, and improvements to power generation and transmission facilities for rural consumers in 13 states.
"USDA Rural Development's investment in the nation's rural electric system provides safe, reliable electricity to rural electric cooperatives, which in turn power homes and businesses," Conner said. "These loans contribute to a vibrant rural America."
Of the $1.6 billion, $1.1 billion will fund clean air technology to purchase or upgrade environmental emission control equipment for Seminole Electric Cooperative, Inc. in Fla., Oglethorpe Power Corporation in Ga., Minnkota Power Cooperative, Inc. (serving N.D., and Minn.), and Western Farmers Electric Cooperative, (serving Okla., Kan., and Texas). The following is a complete list of loan recipients.
Recipient
State
Loan Amount
Kodiak Electric Association
AK
$38,000,000
Gulf Coast Electric Cooperative
FL
$28,378,000
Seminole Electric Cooperative, Inc.
FL
$426,327,000
Flint Electric Membership Corporation
GA
$101,114,000
GreyStone Power Corporation
GA
$45,775,000
North Georgia Electric Membership Corporation
GA
$2,566,000
Oglethorpe Power Corporation
GA
$441,522,000
Blue Grass Energy Cooperative Corporation
KY
$42,824,000
South Kentucky Rural Electric Cooperative Corporation
KY
$8,709,000
Corn Belt Power Cooperative
IA
$57,273,000
Cloverland Electric Cooperative
MI
$10,202,000
Minnkota Power Cooperative, Inc.
ND & MN
$152,228,000
Southeastern Electric Cooperative, Inc.
SD
$25,751,660
Western Farmers Electric Cooperative
OK, KS & TX
$101,105,000
Brazos Electric Power Cooperative
TX
$199,693,000
Jackson Electric Cooperative
WI
$1,425,000
USDA Rural Development's mission is to increase economic opportunity and improve the quality of life for rural residents. Rural Development has invested $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 1.6 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 .
