USDA Invests $2.7 Billion to Improve and Expand Rural Electric Infrastructure
U.S. Department of Agriculture Secretary Tom Vilsack announced earlier this week that the Department is investing $2.7 billion to help 64 electric cooperatives and utilities expand and modernize the nation’s rural electric grid and increase grid security.
Specifically, the USDA is investing in 64 projects through the Electric Loan Program. This funding will benefit nearly 2 million rural people and businesses and does include projects right here in Florida, Georgia, and Alabama.
USDA’s Electric Loan Program can help finance wind, solar and natural gas plants, as well as improvements to produce cleaner 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.
According to Secretary Vilsack, “These critical investments will benefit rural people and businesses in many ways for decades to come.” He adds that, “This funding will help rural cooperatives and utilities invest in changes that make our energy more efficient, more reliable, and more affordable. Investing in infrastructure – roads, bridges, broadband and energy – supports good-paying jobs and keeps the United States poised to lead the global economy.”
For more details, head to https://bit.ly/3XZbF46.