USDA invests $598 M into rural electric infrastructure
The U.S. Department of Agriculture (USDA) recently announced a $598 M rural electric loan package for electric infrastructure in 11 states.
Image source: T&D India
USA, Washington: The U.S. Department of Agriculture (USDA) recently announced a $598 M rural electric loan package for electric infrastructure in 11 states.
“These USDA investments will bring affordable electric power to rural residents, tribal communities, community facilities, schools, and medical institutions that perform critical services each day,” said Agriculture Secretary Tom Vilsack. ” Now is the time for our nation to make significant investments in infrastructure — roads, bridges, broadband, and energy — to improve quality of life and support good-paying jobs, transition to a clean energy economy, and keep the United States poised to lead the global economy.”
The USDA is investing in 11 projects through the Electric Loan Program. This funding will benefit 460,000 rural residents and businesses in Arizona, Kentucky, Maine, Minnesota, Missouri, New Mexico, North Dakota, Oklahoma, South Carolina, Utah, and Virginia. Several of the loans will help expand smart grid technologies, which can be a catalyst for broadband and other telecommunications services in unserved and underserved rural areas.
The USDA’s Electric Loan Program helps finance wind, solar, and natural gas plants, as well as improvements to produce clean energy from coal-fired plants. Local utilities also use the loans to invest in infrastructure to deliver affordable power to millions of residential, commercial, and agricultural consumers.
Under the Biden-Harris administration, USDA Rural Development provides loans and grants to help expand economic opportunities, create jobs, and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety, and health care; and high-speed internet access in rural, tribal, and high-poverty areas.
Source: T&D World