The U.S. Department of Agriculture announced Thursday that it will invest more than $106 million in Minnesota electric cooperatives to upgrade the state's rural electric grid.
The investments are part of $2.7 billion announced by Agriculture Secretary Tom Vilsack to help more than five dozen electric cooperatives and utilities expand and modernize service for nearly 2 million rural people and businesses across 26 states.
Minnesota cooperatives receiving loans include: McLeod Cooperative Power Association, $13 million; Red Lake Electric Cooperative, $9.1 million; PKM Electric Cooperative, $13.4 million; South Central Electric Association, $13 million; Minnesota Valley Electric Cooperative, $35 million; and Beltrami Electric Cooperative, $22.7 million.
"The loans include nearly $10 million to help rural utilities and cooperatives install and upgrade smart grid technologies [which] can be a catalyst for broadband and other telecommunications services in unserved and underserved rural areas," according to a news release issued by the USDA.
Additional energy infrastructure financing is anticipated in the coming months as part of the federal Inflation Reduction Act, which provides more than $12 billion to the USDA "for loans and grants to expand clean energy, transform rural power production, create jobs and spur economic growth," the release said.
JENNY BERG
DULUTH
Another impairment removed from St. Louis River