USDA Awards More Than $1 Billion in Electric Loans to Strengthen Infrastructure in Rural Communities
Funds Will Benefit 60,000 Rural Customers
WASHINGTON, June 4, 2009 -Agriculture Secretary Tom Vilsack today announced that 37 rural utilities and cooperatives in 29 states have been selected to receive more than $1 billion in loans to build and repair more than 10,000 miles of distribution and transmission lines and make system improvements that will benefit 60,000 rural customers.
"President Obama is delivering on his commitment to invest in rural America's infrastructure by funding upgrades to rural utilities and cooperatives," Vilsack said. "Rural communities need affordable up-to-date electric service in order to broaden economic opportunities. These loans will enable cooperatives to deliver improved service to more customers."
These investments help rural electric cooperative utilities continue to provide reliable and affordable electric power to their communities. Rural electric cooperatives are nationally-recognized as leaders in energy efficiency and demand management practices. To date, 402 rural electric cooperatives have used USDA Rural Development's Energy Resources Conservation program to increase energy efficiency, conservation and demand management initiatives.
The funding announced today is being provided through USDA Rural Development's Electric Programs which provides loans and loan guarantees to help utilities, cooperatives, states and local governments provide or improve electric service in rural areas. The Electric Program also helps finance energy conservation and renewable energy systems.
For example, the Delaware Electric Cooperative, Inc. in Greenwood, Del., has been selected to receive a $21 million loan to build and improve 717 miles of distribution lines and make system improvements for more then 6,225 new and existing customers. The West Central Electric Cooperative, Inc., in Higginsville, Mo., been selected to receive a $12.9 million loan to build and make improvements to 169 miles of distribution and transmission lines and make other system improvements. As a result, service will be provided to 1,059 new and existing customers.
Funding of each loan recipient is contingent upon the recipient meeting the conditions of the loan agreement. Below is a complete list of the selected borrowers.
2009 Electric Loan Borrowers
State
Borrower
Loan Amount
Arkansas
Farmers Electric Cooperative Corporation
$6,523,000
Arkansas, Louisiana
Ashley-Chicot Electric Cooperative, Inc.
$5,255,000
Arizona, California, New Mexico
Arizona Electric Power Cooperative, Inc.
$36,032,000
Colorado
San Miguel Power Association, Inc.
$5,100,000
Delaware
Delaware Electric Cooperative, Inc.
$21,000,000
Florida
Withlacoochee River Electric Cooperative, Inc.
$119,930,000
Georgia, Alabama, Florida
Georgia Transmission Corporation
$171,629,000
Iowa
East-Central Iowa Rural Electric Cooperative
$12,000,000
Illinois
Rural Electric Convenience Cooperative, Co.
7,000,000
Illinois
Menard Electric Cooperative
$8,500,000
Kansas
The Ark Valley Electric Cooperative Association, Inc.
$9,335,000
Kansas
The Brown Atchison Electric Cooperative Association
$2,562,000
Minnesota
Goodhue County Cooperative Electric Association
$6,447,000
Minnesota
Wild Rice Electric Cooperative, Inc.
$10,000,000
Missouri
West Central Electric Cooperative, Inc.
$12,865,000
Missouri
Sac Osage Electric Cooperative, Inc.
$5,500,000
Missouri, Iowa,
United Electric Cooperatives, Inc.
$18,951,000
Missouri, Iowa, Oklahoma,
Associated Electric Cooperative, Inc.
$40,000,000
Missouri, Iowa, Oklahoma
Associated Electric Cooperative, Inc.
$160,000,000
Mississippi
Southwest Mississippi Electric Power Association
$11,726,000
Montana
Fergus Electric Cooperative, Inc.
$14,991,000
North Carolina
Albermarle Electric Membership Corporation
$11,500,000
North Carolina, Virginia
Mecklenburg Electric Cooperative
$35,000,000
New Mexico
Continental Divide Electric Cooperative, Inc.
$19,862,000
New Mexico, Texas
Lea County Electric Cooperative, Inc.
$34,865,000
Oklahoma
Indian Electric Cooperative, Inc.
$16,290,000
Oregon
Tillamook People's Utility District
$14,000,000
South Carolina
York Electric Cooperative, Inc.
$46,743,000
South Carolina
Santee Electric Cooperative, Inc.
$48,390,000
South Carolina
Little River Electric Cooperative, Inc.
$15,216,000
South Dakota
Lacreek Electric Association, Inc.
$5,000,000
Tennessee
Gibson Electric Membership Corporation
$7,600,000
Tennessee
Appalachian Electric Cooperative
$30,000,000
Virginia
Rappahannnock Electric Cooperative
$11,400,000
Washington
Nespelem Valley Electric Cooperative, Inc.
$2,253,000
Wisconsin
Vernon Electric Cooperative
$14,500,000
Wyoming, Colorado, Nebraska
High West Energy, Inc.
$26,312,000
USDA Rural Development's mission is to increase economic opportunity and improve the quality of life for rural residents. Rural Development fosters growth in homeownership, finances business development, and supports the creation of critical community and technology infrastructure. 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.
