Johanns Announces More Than $306 Million In Electric Loans
Agriculture Secretary Mike Johanns today announced that USDA will loan more than $306 million to electric utilities in 15 states to build new distribution lines and make system improvements.
“These funds will bring electricity to more than 47,500 new customers and finance the construction of 2,891 miles of distribution line,” Johanns said. “Reliable electric service connects rural communities to their future potential for growth and success.”
One of the loans, for $41,157,000, to the Singing River Electric Power Association, will bring electric service to 10,000 new customers in seven counties in Mississippi and two in Alabama. The Kit Carson Electric Cooperative in Taos, N.M., was awarded a $39,657,000 loan to build new transmission lines and substations and to purchase miscellaneous distribution equipment such as transformers and meters. Mountain Parks Electric, Inc. will receive $12,699,000 to construct new tie-ins in Colorado, make conversion and line changes, build new substations and switching stations, and make other system improvements.
States receiving funding include Ala., Colo., Fla., Ga., Ill., Ind., Kan., Miss., Mo., N.M., N.C., Okla., S.C., Texas, and Wis. A complete list of the loan recipients is available at: http://www.rurdev.usda.gov .
USDA Rural Development’s mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. Rural Development has invested more than $76.8 billion since the beginning of the Bush Administration to provide equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. As a result, more than 1.5 million jobs have been created or saved through these investments. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA’s web site at http://www.rurdev.usda.gov .
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