January 31, 2023
LINCOLN, NE, Jan. 31, 2023 – U.S. Department of Agriculture (USDA) Rural Development Nebraska State Director Kate Bolz announced today that the Department is investing in a project to connect 257 customers and improve 327 miles of electrical line in Nebraska and South Dakota.
Lacreek Electric Association, headquartered in Martin, South Dakota, will receive a $13.6 million dollar loan to provide additional and improved service to customers. The announcement is part of an overall $2.7 billion dollar investment to help 64 electric cooperatives and utilities expand and modernize the nation’s rural electric grid and increase grid security.
“This critical investment will help make our energy more efficient, reliable, and affordable for residents and businesses in Cherry County and the surrounding region,” explained Bolz, “USDA Rural Development is proud to make infrastructure investments like these that support good quality of life in rural Nebraska.”
Background:
USDA is investing in 64 projects through the Electric Loan Program. This funding will benefit nearly 2 million rural people and businesses in Alabama, Arkansas, Colorado, Florida, Georgia, Iowa, Indiana, Kentucky, Michigan, Minnesota, Mississippi, Montana, Nebraska, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Virginia, Washington, and Wisconsin.
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.
In the coming months, USDA will announce additional energy infrastructure financing. The Biden-Harris Administration’s 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.
USDA’s Electric Loan Program can help finance wind, solar and natural gas plants, as well as improvements to produce cleaner energy from coal-fired plants. Local utilities also use the loans to invest in infrastructure to deliver affordable power to millions of residential, commercial, and agricultural consumers.
Under the Biden-Harris Administration, Rural Development provides loans and grants to help expand economic opportunities, create jobs, and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety, and health care; and high-speed internet access in rural, Tribal, and high-poverty areas. For more information, visit www.rd.usda.gov.
USDA touches the lives of all Americans each day in so many positive ways. Under the Biden-Harris Administration, USDA is transforming America’s food system with a greater focus on more resilient local and regional food production, promoting competition and fairer markets for all producers, ensuring access to safe, healthy and nutritious food in all communities, building new markets and streams of income for farmers and producers using climate-smart food and forestry practices, making historic investments in infrastructure and clean energy capabilities in rural America, and committing to equity across the Department by removing systemic barriers and building a workforce more representative of America. To learn more, visit www.usda.gov.
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