U.S. Department of Agriculture Secretary Tom Vilsack has announced a new round of loan guarantees that includes nearly $10 million to help utilities and cooperatives adopt smart grid technologies.
One of the guaranteed loan recipients is Nobles Cooperative Electric, which serves several counties in southwestern Minnesota as well as Lyon and Osceola counties in northwestern Iowa. Nobles has been selected for a $6.7 million loan guarantee to build and improve 63 miles of distribution lines and make other system improvements. The loan amount includes $850,000 in smart grid projects.
The Gundy Electric Cooperative Inc., which serves customers in Iowa and Missouri, has been selected for a $5 million loan guarantee to build and improve 18 miles of distribution lines and make other system improvements. The loan amount includes over $700,000 in smart grid projects.
Secretary Vilsack announced earlier this month that the USDA met its goal to finance $250 million in smart grid technologies in fiscal year 2012. Today's announcement includes support for nearly $10 million in smart grid technologies.
To view a list of the newest loan guarantee recipients, click here.
