Posted: Friday, 10 August 2012 7:13AM
Local electric cooperatives to receive USDA loans
Rural electric utilities in 18 states – including East River Electric Power Cooperative of Madison and Sioux Valley Energy of Colman – are receiving loan guarantees to make improvement to electric lines, transmission facilities and to reduce peak electric loads by deploying smart grid technologies. U-S Agriculture Secretary Tom Vilsack made the announcement Thursday.
East River Electric Power Cooperative is receiving a 62-point-2-million dollar loan that will be used to build 44 miles of transmission line, three new substations, and make other system improvements. The loan amount includes almost four million dollars in smart grid projects.
Sioux Valley Energy is receiving a just more than 39-million dollar loan. Funds there will be used to serve more than 14-hundred consumers, build and improve 618 miles of distribution line, and make other system improvements. The loan amount includes close to three-point-six-million dollars in smart grid projects.