USDA grants $46M loan to electric co-op for new substations
USA, North Dakota: Minot-based Central Power Electric Cooperative has been awarded a $46 million loan from the U.S. Department of Agriculture Rural Development that will help finance the improvement of the energy infrastructure in North Dakota.
USA, North Dakota: Minot-based Central Power Electric Cooperative has been awarded a $46 million loan from the U.S. Department of Agriculture Rural Development that will help finance the improvement of the energy infrastructure in North Dakota.
The funds will be used to finance construction of new substations with power transformers and associated electrical equipment, as well as 85 kilometres of power lines, reports The Bismarck Tribune.
While it is rare to have such substantial loan approved to one institution, this reflects the need to respond to the growing electricity demand as Central Power Electric Cooperative serves nearly 56,000 customers in 25 North Dakota counties.
Source: The Bismarck Tribune
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