Cooperatives receive loan guarantees
BISMARCK U.S. Department of Agriculture has announced more than $100 million in loan guarantees to North Dakota electric utilities.
Cooperatives receiving loan guarantees for area counties include:
Verendrye Electric Cooperative of Velva will receive a $63 million loan to serve 4,597 consumers in McHenry, McLean, Pierce, Renville, Sheridan, Ward, and Wells counties and build 741 miles of distribution line. The loan includes $1,164,000 for smart grid projects and $315,000 for service to Native Americans.
Capital Electric Cooperative of Bismarck will receive a $31 million loan to serve 2,823 consumers in counties including McLean and Sheridan, and build 265 miles of distribution line. The loan includes more than $2 million for smart grid projects and $248,000 for service to Native Americans.
Nodak Electric Cooperative of Grand Forks will receive a $31.1 million loan to serve 920 consumers in several counties including Benson, Eddy and Ramsey, and build 450 miles of distribution line. The loan includes $2.4 million for smart grid projects and $540,000 for service to Native Americans.
“These loans will help facilitate our electric cooperatives continue to expand services to a growing North Dakota, making it possible to deliver electricity in a safe, reliable and efficient manner,” said Rep. Kevin Cramer, R-N.D.