U.S. Department of Agriculture (USDA) Rural Development State Director Colleen Landkamer, alongside local business officials, today visited Runestone Electric Association to highlight recent electric infrastructure funding.
“Rural electric cooperatives are the backbone of America’s power delivery,” State Director Landkamer said. “The loan awarded to Runestone Electric Association reinforces this commitment to strengthen America’s energy security by investing to deploy renewable energy technology and upgrade thousands of miles of transmission line across the nation."
Runestone Electric Association, which serves over 15,000 consumers in six counties, will be able to connect 1,098 consumers and build and improve 133 miles of line thanks to a partnership with USDA. The funding will also be used to implement smart grid technologies.
USDA provided financial assistance in the form of a $25 million loan through the Electric Infrastructure Loan and Loan Guarantee Program.
Projects funded through the Electric Infrastructure Loan and Loan Guarantee Program will reduce electricity costs for hardworking families and small business owners and prevent power outages in the face of extreme weather exacerbated by the climate crisis. The investments will also strengthen the nation’s energy independence and good-paying jobs that benefit everyone.
Electric Infrastructure Loans
USDA is investing $2.2 billion to support 39 projects in 21 states through the Electric Infrastructure Loan and Loan Guarantee Program. Funding will help utility providers and electric cooperatives build and improve electric infrastructure, smart-grid technologies and renewable energy systems.
The projects will ensure more than two million people in rural areas have access to reliable electricity, increasing their opportunities for economic growth and enhancing their overall quality of life.
Background
USDA makes funding available for the Electric Infrastructure Loan and Loan Guarantee Program through regular appropriations from Congress. It provides funding to utility providers and electric cooperatives to build and improve electric infrastructure, smart-grid technologies and renewable energy systems. Through this program, USDA Rural Development ensures everyone in rural areas has access to electricity to increase economic opportunity and quality of life.
USDA Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, tribal and high-poverty areas. Visit the Rural Data Gateway to learn how and where these investments are impacting rural America.
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