The Grundy Electric Cooperative was one of 12 electric coops to receive loan guarantees from the U.S. Department of Agriculture Saturday.

Agriculture Secretary Tom Vilsack announced the latest in a series of loan guarantees to finance improved efficiency and modernization rural electric generation and transmission systems.

 

The Grundy Electric Cooperative in Trenton will receive $5,000,000. Funds will be used to serve 332 consumers, build and improve 18 miles of distribution line, and make other system improvements. The loan amount includes $703,000 in smart grid projects.

“These loan guarantees will bring expanded, modern electric services to rural businesses and residential customers,” Vilsack said. “Several of the loans include funding to help utilities and cooperatives adopt smart grid technologies to modernize electric systems.”

Secretary Vilsack announced earlier this month that USDA met its goal to finance $250 million in smart grid technologies in fiscal year 2012. Saturday’s announcement includes support for nearly $10 million in smart grid technologies.

The $168 million in loan guarantees announced Saturday are provided by USDA Rural Development’s Rural Utilities Service. The funding helps electric utilities upgrade, expand, maintain and replace rural America’s electric infrastructure. USDA Rural Development also funds energy conservation and renewable energy projects.

Six other utilities in Missouri and Kansas will also receive the loan guarantees.  For the complete list click here.

For information on other RD projects, visit Rural Development’s new interactive web map here.