The United States Department of Agriculture (USDA) recently announced that Missouri is one of nine recipients that will be receiving a loan from the USDA. The loan will be divided between the nine states and is estimated to be $202 million dollars total. With this loan, the USDA will continue to help provide safe, reliable, and affordable electricity to rural residents, businesses, and institutions.
The overall loan includes $14.7 million to implement Smart Grid technology. Smart Grid technology is comprised of metering, substation automation, computer applications, two-way communications, geospatial information systems, and other improvements. The use of Smart Grid will increase reliability of electric power by helping utility companies improve on managing power needs and supply.
Roger Glendenning, Chief Financial Officer of the USDA Rural Development stated, “USDA continues to be a partner with cooperatives and utilities to expand and modernize the rural electric grid. These loans represent the latest efforts to create jobs, help grow the rural economy, and support new technology."
From Missouri, Gascosage Electric Cooperative was awarded $10.2 million to build and improve 50 miles of line and make system upgrades. More than $224,000 will be invested in Smart Grid Projects.
This USDA loan coincides with the Missouri Comprehensive State Energy Plan which calls for diversifying and promoting Security in supply, promoting efficiency of use, and stimulating innovation, emerging technologies, and job creation.
For more information about the USDA loan visit USDA.gov.
To find out more about the Missouri Comprehensive State Energy Plan click here.