Electric cooperative receives USDA funding

10/14/2011

Nonprofit Tri-County Electric Cooperative recently received a $25 million USDA loan from the U.S. Department of Agriculture's Office of Rural Development, Decorah Newspapers reports.

The cooperative will use the funds to serve its 460 customers, build 70 miles of distribution line and make improvements to 79 miles of line.

"This investment in rural America's utilities and cooperatives should help improve service to rural customers," said Senator Chuck Grassley, as quoted by the news source.

The Daily Express reports that TCE in Missouri received more than $7 million as part of a $44 million USDA state loan to help improve distribution systems and smart grid technologies. The USDA's Rural Utilities Service provided more than $2.1 billion in these loans nationwide.

TCE will build 41 miles of distribution line in the state, and make improvements to 39 miles with the funds, which Tri-Country office manager Wendy McElvain states will be part of the cooperative's "four-year work plan."

McElvain added that the loan must be paid back within the next 30 to 35 years.