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Missouri Electric Cooperative Recipient of USDA Loan
The United States Department
of Agriculture (USDA) recently announced that Missouri is one of nine
recipients that will be receiving a loan from the USDA. The loan will be
divided between the nine states and is estimated to be $202 million dollars total. With this
loan, the USDA will continue to help provide
safe, reliable, and affordable electricity to rural residents, businesses, and
institutions.
The overall
loan includes $14.7 million to
implement Smart Grid technology. Smart Grid technology is comprised of
metering, substation automation, computer applications, two-way communications,
geospatial information systems, and other improvements. The use of Smart
Grid will increase reliability of electric power by helping utility companies
improve on managing power needs and supply.
Roger Glendenning, Chief
Financial Officer of the USDA Rural Development stated, “USDA continues to be a
partner with cooperatives and utilities to expand and modernize the rural
electric grid. These loans represent the latest efforts to create jobs, help
grow the rural economy, and support new technology."
From Missouri, Gascosage Electric Cooperative was awarded $10.2
million to build and improve 50 miles of line and make system upgrades. More
than $224,000 will be invested in Smart Grid Projects.
This USDA loan coincides with
the Missouri Comprehensive State Energy Plan which calls for diversifying and
promoting Security in supply, promoting efficiency of use, and stimulating
innovation, emerging technologies, and job creation.
For more information about the USDA loan visit USDA.gov.
To find out more about the Missouri Comprehensive State Energy Plan click here.
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