|(JUNE 16, 2011) USDA FINANCES IMPROVEMENTS TO ELECTRIC SERVICES|
|BISMARCK, ND, Jun 16, 2011
@@Jasper Schneider, USDA Rural Development State Director, today announced that two North Dakota Rural Electric Cooperatives will be receiving financing to upgrade their electrical infrastructure and provide new technology to their members.
“These federal investments into rural North Dakota create opportunity and ensure that our rural citizens are provided with the highest quality of services,” said Schneider. “By upgrading and modernizing our electric grid, consumers have greater control over their electric costs and utilities become more efficient.”
The following recipients were selected to receive USDA funding, which is contingent upon the borrower meeting the terms of the loan agreement:
• KEM Electric Cooperative, Inc. — $6,000,000 will be used to build 17 miles of new distribution line, make improvements to 118 miles of existing distribution line, and make other system improvements. $50,460 will be used for advanced meter deployment. KEM Electric Cooperative serves rural electric consumers in all of Emmons County, and portions of Kidder, Logan and McIntosh Counties.
• Cavalier Rural Electric Cooperative, Inc. — $8,183,000 will be used to build 28 miles of new distribution line, make improvements to 185 miles of existing distribution line, and make other system improvements. $8,100 will be used for advanced meter deployment. Cavalier Rural Electric Cooperative serves rural electric consumers in Cavalier County.
Last year in North Dakota, over $648 million in loans were made to rural electric cooperatives through USDA Rural Development. With the funding from USDA Rural Development, rural electric cooperatives are leading the way in the modernizing the nation’s electrical grid. USDA has a goal to invest $250 million in smart grid equipment deployment in rural America over the next 12 months.