Bipartisan Support Builds for Size and Flexibility of RUS Lending Program
Posted on Apr 7, 2014 in Financing, Legislative & Politics, Project Development, Renewable Energy | Comments Off on Bipartisan Support Builds for Size and Flexibility of RUS Lending Program
One hundred sixty-nine House members—89 Republicans and 80 Democrats—have voiced their support for the Obama Administration’s proposal to set funding of the Rural Utilities Service (RUS) Electric Loan Program at $5 billion for fiscal year 2015. However, they have also asked that the House agriculture appropriations subcommittee reject the Administration’s proposal to earmark as much...
Coops Collectively Investing in 517-kW Solar Project
Posted on Mar 25, 2014 in Financing, Grid & Infrastructure, Innovation/Efficiency, Project Development, Renewable Energy | Comments Off on Coops Collectively Investing in 517-kW Solar Project
Four electric utility coops in the Midwest will become joint owners of a 517-kW solar project developed by Dragonfly Solar, a commercial solar developer based in Lakeville, Minnesota, and SolarWorld, the largest U.S. solar manufacturer. This is the first U.S. solar project to be jointly owned and developed by utility coops. For more details and to see which four coops are involved,...
Electric Coops Seek FCC Funding for Broadband Projects
Posted on Mar 20, 2014 in Financing, Innovation/Efficiency, Project Development | Comments Off on Electric Coops Seek FCC Funding for Broadband Projects
More than 100 electric cooperatives, sparked by an initial inquiry by Michigan-based Midwest Energy, have filed an “expression of interest” with the Federal Communications Commission (FCC), indicating that they are interested in receiving aid through the Connect America Fund to build broadband projects in their communities. Seventy-three percent of the 20 million Americans without...
DOE to Approve Loan For Nuclear Reactors
Posted on Feb 20, 2014 in Financing, Project Development | Comments Off on DOE to Approve Loan For Nuclear Reactors
In a move over 30 years in the making, the U.S. Department of Energy (DOE) plans to approve $6.5 billion in federal loan guarantees for two additional nuclear reactors located at Plant Vogtle, a nuclear plant in Georgia. Oglethorpe Power Corporation is among the owners of the project. The reactors would represent the first time since the 1970s that the U.S. has built reactors. To...
Arizona Coop Forgoes 100% Equity Financing, Becomes CFC Borrower
Posted on Feb 11, 2014 in Financing, Patronage Capital | Comments Off on Arizona Coop Forgoes 100% Equity Financing, Becomes CFC Borrower
Duncan Valley Electric Cooperative (DVEC), based in Duncan, Arizona, recently borrowed from the National Rural Utilities Cooperative Finance Corporation (CFC) to prepay future National Rural Electric Cooperative Association Retirement Security Plan contributions. The move makes DVEC a 100% CFC borrower and marks a departure from its existing financing strategy. DVEC, which last...
Texas Coop Amends and Extends CFC Facility
Posted on Feb 11, 2014 in Financing | Comments Off on Texas Coop Amends and Extends CFC Facility
South Texas Electric Cooperative (STEC), a generation and transmission cooperative based in Nursery, Texas, recently amended and extended its $350 million revolving syndicated credit facility, for which the National Rural Utilities Cooperative Finance Corporation (CFC) serves as administrative agent and lead arranger. The transaction allowed CFC to extend the maturity date by...
Florida Coop Retiring $5 Million in Capital Credits
Posted on Feb 4, 2014 in Financing | Comments Off on Florida Coop Retiring $5 Million in Capital Credits
Clay Electric Cooperative will distribute its 40th consecutive capital credits refund this March. This $5 million refund, which will be distributed to current and former customers who received service between 1987 and 2012, will appear be issued in the form of a credit on March bills to current customers. Former customers will be issued a check in mid-March. The money for the refund...
Minnesota Coop Members Allowed to Pre-Purchase Energy
Posted on Feb 4, 2014 in Environmental, Financing, Grid & Infrastructure, Innovation/Efficiency, Project Development, Rates, Renewable Energy | Comments Off on Minnesota Coop Members Allowed to Pre-Purchase Energy
Lake Region Electric Cooperative, based in Pelican Rapids, Minnesota, is investing in a community solar initiative through a program that gives its members the chance to buy part of the solar output from the HQ Prairie solar project built at the coop’s headquarters. Participation in the program was offered to members on a voluntary, market-based basis, which the coop hopes will keep...
Latest Round of USDA Loans Announced
Posted on Jan 30, 2014 in Financing, Project Development, Regulation & Policy | Comments Off on Latest Round of USDA Loans Announced
As part of the U.S. Department of Agriculture’s (USDA) Rural Economic Development Loan and Grant program, $13.9 million in loans and grants have been approved for electric coops spanning eight states. The funds are intended to stimulate job growth and spark economic development in rural areas. Read more here.
Dairyland to Buy Solar Power from Coop Joint Venture
Posted on Jan 27, 2014 in Financing, Project Development, Renewable Energy | Comments Off on Dairyland to Buy Solar Power from Coop Joint Venture
As last reported by the Sutherland Coop Team on January 17, 2014, Dairyland Power Cooperative (Dairyland), based in La Crosse, Wisconsin, has agreed to purchase the output from a 517-kW solar facility owned by a joint venture of three Minnesota distribution cooperatives. The deal will allow Dairyland, which currently provides about 12 percent of its members’ energy using renewable...
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