BISMARCK, ND, Feb 19, 2013 -- Jasper Schneider, USDA Rural Development state director, today announced that two electric cooperatives serving North Dakota will receive loan guarantees to improve generation and transmission facilities and implement smart grid technologies.
“With tremendous growth, expanding and improving our electric infrastructure is critical,” Schneider said. “This financing will provide the capital for reliable and affordable service while supporting economic development.”
Today’s announcement includes support for more than $500,000 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.
• Burke-Divide Electric Cooperative, Inc. (Columbus) – $7,700,000. Funds will be used to build 106 miles of distribution line, 20 miles of transmission line and make other system improvements. The loan includes $549,994 in smart grid projects.
• Central Power Electric Cooperative, Inc. (Minot) – $33,733,000. Funds will be used to build 141 miles of transmission line and make other system improvements.
The $41 million in loan guarantees announced today are provided through USDA’s Rural Utilities Service. The funding helps electric utilities upgrade, expand, maintain and replace rural America’s electric infrastructure. Further information on these and other rural programs is available by visiting USDA's web site at http://www.rurdev.usda.gov/nd.