Source: USDA, 10/13/11

 

Agriculture Secretary Tom Vilsack today announced funding for rural electric cooperative utilities to improve distribution systems and smart grid technologies in 27 states, as part of the Obama Administration's continued focus on investments in infrastructure that create rural jobs. The announcement was made on the Secretary's behalf by Agriculture Under Secretary for Rural Development Dallas Tonsager during a speech to the National Rural Electric Association regional meeting in Denver, where he also stressed the importance of the American Jobs Act to spur job creation throughout the country.

"This investment in the electric grid will help address the growing need for electric service nationwide and spur job creation by building out rural infrastructure," Vilsack said. "Smart grid technology can help better manage power use, provide rate stability for businesses and create the climate for job growth in rural America."

Over $2.1 billion in loans are provided by USDA's Rural Utilities Service, a Rural Development Agency, to help rural electric utilities build and upgrade rural America's electric infrastructure. These projects will fund over $40 million in smart grid technologies and will build or improve nearly 6,000 miles of line. Funding for distribution cooperatives, which provide power to consumers, will benefit over 38,000 rural businesses and residents.

Funding is contingent upon the recipient meeting the terms of the loan agreement. N.C. projects receiving funding include:

Blue Ridge Electric Membership Corporation $25,000,000
Build 248 miles of new distribution line, make improvements to 88 miles of existing distribution line and 9 miles of transmission line, and make other system improvements.

North Carolina Electric Membership Corporation $124,594,000
Capital additions and improvements to the Catawba Nuclear Stations Units 1 and 2.