USDA Rural Development (RD) Business and Industry (B&I) Loan funds are used to assist farmers, ranchers, and rural small businesses in developing renewable energy systems and in making energy-efficiency improvements to their operations.
In May, Peony Solar, located in Springfield, S.C., celebrated the grand opening of one of the larges solar farms in South Carolina. Following the Ceremony, a tour led by Pine Gate Renewables, provided information and education on the safe and quiet function of the solar farm.
RD financed a combined total of $31,000,000 for this project, which included a B&I Guaranteed Loan of $10,000,000 as well as a $21,000,000 Rural Energy for America Program (REAP) loan. Funds for this project were used by Peony Solar to purchase and install a 57,2286 Megawatt (DC) Solar Farm, which will generate enough power to benefit approximately 9,400 homes in the State.
Additional information about the USDA Rural Development Business and Industry Loan Program and Rural Energy for America Loan Program is available online at https://www.rd.usda.gov/sc.
To see if you might qualify, please contact one of our RBS Staff, located at the State Office at: https://www.rd.usda.gov/contact-us/state-offices/sc.
USDA is an equal opportunity provider, employer, and lender.