Fifty rural utilities and cooperatives in 31 states have been selected to receive guaranteed loans that will benefit more than 183,000 rural electric cooperative consumers by financing the construction and repair of over 15,000 miles of distribution and transmission lines.
The $2.9 billion in funding is provided through USDA Rural Development's Rural Utilities Service program. Funds will assist with upgrades, expansion, maintenance, and replacement of rural America's electric transmission, distribution lines and generating equipment. The Electric Program also helps fund energy conservation and renewable energy projects, included in this distribution is a $310 million investment in renewable energy.
In making the announcement, Ag Secretary Tom Vilsack said USDA's investment will finance reliable and affordable electric power to homes and business in rural America.