USDA Logo Rural Development Logo USDA Rural Development Main Masthead
SpacerHomeDividerAbout RDDividerNewsroomDividerAgencies & OfficesDividerPrograms & OpportunitiesDividerHelpDividerContact UsDividerEn Español
Search RD
Spacer
Go
Spacer
Browse by Audience
Spacer
Spacer
Browse by Subject
Spacer
Business
Community Development
Cooperatives
Energy
Housing
Utilities
Loans
Grants
Technical Assistance
Forms and Publications
Regulations and Guidance
Online Services
Left Navigation Menu Bottom
Newsroom
News Release
Release No. STELPRD4018230
ContactJessica Bowser785.271.2701
Printable Version  Printable Version
SECRETARY VILSACK ANNOUNCES FUNDING TO IMPROVE RURAL ELECTRIC SERVICES

Topeka, Kansas, Sep 20, 2012 -- Agriculture Secretary Tom Vilsack announced the latest in a series of loan guarantees to finance improved efficiency and modernization rural electric generation and transmission systems.

"These loan guarantees will bring expanded, modern electric services to rural businesses and residential customers," Vilsack said. "Several of the loans include funding to help utilities and cooperatives adopt smart grid technologies to modernize electric systems."

In Kansas, the Victory Electric Cooperative Association and the Twin Valley Electric Cooperative received USDA Rural Development loan guarantees to improve rural electric services. 

The Victory Electric Cooperative Association is receiving $37 million in financing to build and improve 143 miles of distribution line and 142 miles of transmission line, and make other system improvements that will serve 831 customers.  The loan amount includes $2.43 million in smart grid projects.  Counties served by the cooperative include:  Clark, Edwards, Finney, Ford, Gray, Haskell, Hodgeman, Kiowa  and Meade.

The Twin Valley Electric Cooperative is receiving $7.2 million in financing to build and improve 56 miles of distribution line, and make other system improvements that will serve 603 customers.  The loan amount includes $675,000 in smart grid projects.  Counties served by the cooperative include:  Cherokee, Labette, Montgomery and Neosho.  

“As a cooperative, Victory Electric is continuously looking for ways to improve the quality of life for our members,” said Terry Janson, Victory Electric CEO. “Utilizing USDA Rural Development financing allows Victory to make improvements in our infrastructure and add smart grid technology.  This improves the reliability of our system and keeps costs at a minimum for our members.”

Secretary Vilsack announced earlier this month that USDA met its goal to finance $250 million in smart grid technologies in fiscal year 2012. Today's announcement includes support for nearly $10 million in smart grid technologies.

Additional rural utilities that were awarded funding today, which is contingent upon the recipient meeting the terms of the loan agreement, are:

Georgia

    •  Middle Georgia Electric Membership Corporation – $6,300,000. Funds will be used to serve 736 consumers, build and improve 141 miles of distribution line, and make other system improvements. The loan amount includes $157,000 in smart grid projects.

Minnesota and Iowa

    •  Nobles Cooperative Electric – $6,700,000. Funds will be used to serve 152 consumers, build and improve 63 miles of distribution line, and make other system improvements. The loan amount includes $854,100 in smart grid projects.

Missouri

    •  Se-Ma-No Electric Cooperative – $2,000,000. Funds will be used to serve 380 consumers, build and improve 67 miles of distribution line, and make other system improvements. The loan amount includes $41,800 in smart grid projects.

    •  Sac Osage Electric Cooperative, Inc. – $9,000,000. Funds will be used to serve 713 consumers, build and improve 70 miles of distribution line, and make other system improvements. The loan amount includes $775,500 in smart grid projects.

    •  Three Rivers Electric Cooperative – $5,334,000. Funds will be used to serve 272 consumers, build and improve 20 miles of distribution line, and make other system improvements.

Missouri and Iowa

    •  Grundy Electric Cooperative, Inc. – $5,000,000. Funds will be used to serve 332 consumers, build and improve 18 miles of distribution line, and make other system improvements. The loan amount includes $703,000 in smart grid projects.

Missouri, Iowa and Oklahoma

    •  Associated Electric Cooperative, Inc. – $24,628,000. Funds will be used to build new substations, one new switching station and a spare transformer.

Nebraska

    •  The Midwest Electric Corporation – $6,466,000. Funds will be used to serve 409 consumers, build and improve 175 miles of distribution line and 22 lines of transmission line, and make other system improvements. The loan amount includes $612,600 in smart grid projects.

Texas

    •  United Electric Cooperative Service, Inc. – $50,000,000. Funds will be used to serve 7,572 consumers, build and improve 1,097 miles of distribution line, and make other system improvements. The loan amount includes $3,322,341 in smart grid projects.

Virginia

    •  Prince George Electric Cooperative – $8,418,000. Funds will be to serve 1,690 consumers, build and improve 85 miles of distribution line, and make other system improvements. The loan amount includes $231,400 in smart grid projects.

The $168 million in loan guarantees announced today are provided by USDA Rural Development's Rural Utilities Service. The funding helps electric utilities upgrade, expand, maintain and replace rural America's electric infrastructure. USDA Rural Development also funds energy conservation and renewable energy projects.

USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure programs through a national network of state and local offices. Rural Development has an active portfolio of more than $172 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America.

#

USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).

Last Modified:09/18/2013 
 
Footer Corner
RD Home | USDA.gov | Site Map | Policies and Links
FOIA | Accessibility Statement | Privacy Policy | Non-Discrimination Statement | Information Quality | FirstGov | White House