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USDA to Guarantee Loans For Rural Electric Co-ops

17:06PM Oct 16, 2014
powerlines

Four rural electrical cooperatives in South Dakota are getting large federal loan guarantees to help build or improve transmission and distribution lines.

The money is part of $1.4 billion in U.S. Department of Agriculture loan guarantees for such projects nationwide. The agency says the goal is to improve the delivery of electric power to rural communities in 21 states.

East River Electric Power Co-op in South Dakota and Minnesota is getting a $131.7 million loan guarantee for 445 miles of lines.

Loan guarantees also are going to three other South Dakota co-ops: $3.3 million for Kingsbury Electric, $6.1 million for Cam Wal Electric and $6.7 million for Bon Homme Yankton Electric. Those projects encompass a total of 253 miles of line.