Inter-County Energy Gets $30 Million To Build And Improve 228 Miles Of Line
Image: Inter-County Energy Electrical Cooperative.
The U.S. Department of Agriculture is investing $30 million to the Inter-County Electric Cooperative Corporation. The Rural Development investment will be used to connect 2,360 consumers and build and improve 228 miles of line. This loan includes $9,284,972 in smart grid technologies.
Headquartered in Danville, Inter-County Energy serves 26,278 members in twelve counties in Central Kentucky, including approximately 2,069 customers here in Mercer County. Founded in 1937, Inter-County services power lines stretched over 3,952 miles of line.
The agriculture department is investing $2.7 billion to help 64 electric cooperatives and utilities—including four in Kentucky—expand and modernize the nation’s rural electric grid and increase grid security through the Electric Loan Program. This funding will benefit nearly 2 million rural people and businesses in more than 26 states. The loans include $613 million to help rural utilities and cooperatives install and upgrade smart grid technologies. Smart grid can be a catalyst for broadband and other telecommunications services in unserved and underserved rural areas in addition to improving grid security and reliability. Nearly half of the awards will help finance infrastructure improvements in underserved communities.
In the coming months, USDA will announce additional energy infrastructure financing. The Inflation Reduction Act provided more than $12 billion to USDA for loans and grants to expand clean energy, transform rural power production, create jobs and spur economic growth. This funding will help make energy cleaner, more reliable and more affordable. For more information, visit www.rd.usda.gov.
