WASHINGTON- Senator Chuck Grassley today announced that the U.S. Department of Agriculture, Office of Rural Development has awarded loans totaling $334,502,000 to Basin Electric Power Cooperative in Bismarck, South Dakota and Freeborn-Mower Cooperative Services in Albert Lea, Minnesota through the Electric Loan Program.
“These funds will help improve service to customers across the Midwest, including Clay and Worth Counties,” Grassley said.
Freeborn-Mower Cooperative Services will receive a $9,502,000 guaranteed loan and use the funds to help build 29 miles of new distribution lines, make improvements to 36 miles of distribution lines, and make other system improvements to serve 752 new and existing consumers which will affect Worth County in Iowa. The life of the loan is 34 years.
Basin Electric Power Cooperative will receive a 3.25 million guaranteed loan and use the funds to help finance the Leland Olds Station Emissions Control Project which adds S02 controls for both of the Leland Olds Station Units and the NOX emissions control for Unit 2. This project will help meet regulations under the U.S. Environmental Protection Agency’s Regional Haze Regulations and Guidelines for Best Available Retrofit Technology Determination which will affect Clay County.
The Electric Loan program assists rural areas in the financing of construction of electric distribution, transmission, and generation facilities, including system improvements and replacement required to furnish and improve electric service, as well as demand side management, energy conservation programs and on-grid renewable energy systems.