U.S. Department of Agriculture (USDA) Rural Development State Director Sallie Clark today highlighted a $45.6 million investment to Y-W Electric in Akron, CO to improve rural electric infrastructure.
Y-W Electric is a member-owned electric distribution borrower that will utilize loan funding to connect 365 customers, and build and improve 164 miles of line, including 18 miles of transmission line. This loan includes more than $4 million for smart grid technologies that use digital communications technology to detect and react to local changes in electricity usage.
“Providing affordable electricity is an integral part of the USDA Rural Development mission and is essential to the economic well-being of our rural residents. The partnership with Y-W will ensure high quality, reliable electric service for the 8,889 cooperative members in Kit Carson, Washington, and Yuma counties in Colorado and Dundy county in Nebraska,” said Clark.
USDA is providing financing through the Electric Loan Program. It will help build and improve 6,886 miles of line to strengthen reliability in rural areas. The loans include $255.8 million for investments in smart grid infrastructure that uses digital communications technology to detect and react to local changes in electricity usage.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs 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 areas. For more information, visit www.rd.usda.gov/co.