Temple, Texas, Feb 20, 2013 -- USDA Rural Development announced that rural electric cooperatives and utilities in 12 states will receive loan guarantees to improve generation and transmission facilities and implement smart grid technologies.
The $330 million in loan guarantees announced today are provided by USDA’s Rural Utilities Service. The funding helps electric utilities upgrade, expand, maintain and replace rural America’s electric infrastructure. USDA also funds energy conservation and renewable energy projects.
In Texas, the Bowie-Cass Electric Cooperative, Inc. was awarded $38,532,000 to build 562 miles of distribution line and make various other improvements. The loan amount also includes $672,875 for smart grid projects.
“Electric cooperatives provide a vital service to rural Texas communities,” said Paco Valentin, USDA Rural Development Texas State Director. “USDA Rural Development is pleased to assist Bowie-Cass Electric Cooperative, Inc., improve the efficiency of essential and affordable services to rural homeowners, farms and businesses.”
The announcement includes support for more than $8 million in smart grid technologies, which help utilities make efficiency improvements to the electric grid and help consumers lower their electric bills by reducing energy use in homes and businesses.
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 $181 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 areas.