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Source: USDA, 5/4/12
Agriculture Secretary Tom Vilsack today announced that rural electric cooperative utilities in 10 states will receive loans to install smart grid technologies and make improvements to generation and transmission facilities. Examples of funding announced today include a $102.8 million guaranteed loan to the Jackson Electric Membership Corporation in Jefferson, GA, to build and improve over 850 miles of distribution line and make other system improvements. The loan also includes $7.2 million in smart grid projects.
"A 21st century electric grid is essential to America's ability to create jobs in the clean energy economy of the future." Vilsack said. "These investments enable consumers and businesses to better manage their use of electricity and help maintain affordable rates. Building transmission infrastructure that employs smart grid technologies will make it easier to add renewable sources of electricity into the grid and also improve reliability."
With this funding, USDA Rural Development moves closer to reaching Secretary Vilsack's goal to fund more than $250 million for Smart Grid technologies. Today's announcement includes support for nearly $20 million in Smart Grid technologies. For example, In Kentucky, Cumberland Valley Electric was selected to receive a $17.6 million guaranteed loan, including $2.2 million in smart grid projects. Funds will be used to build and improve 100 miles of distribution line and make other system improvements.
The $334 million in loans announced today are provided by USDA Rural Development's Rural Utilities Service (RUS). 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.
North Carolina
· North Carolina Electric Membership Corporation – $33,822,000. Funding will be used to finance capital improvements at the Catawba nuclear Station Units 1 and 2.
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