Missouri Coop Refinances RUS Debt
Posted on Nov 27, 2013 in Financing, Patronage Capital | Comments Off on Missouri Coop Refinances RUS Debt
Co-Mo Electric Cooperative recently refinanced $38.7 million in debt held by the Rural Utilities Service (RUS). CoBank and the National Rural Utilities Cooperative Finance Cooperation issued new debt for the refinancing transaction. The cooperative cited better interest rates and the desire for flexibility outside of government-based borrowing as reasons for the decision to...
Wisconsin Coop Secures Additional CFC Financing
Posted on Nov 25, 2013 in Financing, Grid & Infrastructure, Innovation/Efficiency, Project Development, Reliability, Technology | Comments Off on Wisconsin Coop Secures Additional CFC Financing
Washington Island Electric Cooperative (WIEC), based in Washington Island, Wisconsin, has recently refinanced its debt with another lender to become a 100-percent National Rural Utilities Cooperative Finance Corporation (CFC) borrower. WIEC, which serves 1,080 members on an island in Lake Michigan accessible only by ferry, has plans for some improvement projects, including the...
Vermont Coop to Build 5-MW Solar Project
Posted on Nov 12, 2013 in Climate Change, Environmental, Financing, Grid & Infrastructure, Innovation/Efficiency, Project Development, Rates, Regulation & Policy, Reliability, Renewable Energy | Comments Off on Vermont Coop to Build 5-MW Solar Project
The Vermont Electric Cooperative (VEC) is hoping to build the state’s largest utility-owned solar power project as part of a broader effort to help reduce the state’s dependence on fossil fuels. VEC is working with 14 other coops across the country on the 5-MW project in a first-of-its-kind initiative to make solar energy cost-competitive with other forms of electricity by the end of...
NCSC Funds Two Solar Projects for Hawaii Coop
Posted on Nov 4, 2013 in Climate Change, Environmental, Financing, Project Development, Renewable Energy | Comments Off on NCSC Funds Two Solar Projects for Hawaii Coop
Kaua‘i Island Utility Cooperative (KIUC) will break ground this week on one of two planned solar photovoltaic (PV) power plants on the island of Kaua‘i, Hawaii. The National Cooperative Services Corporation (NCSC) has advanced initial funding for the estimated $40 million project, which will be the largest utility-scale solar facility in Hawaii and will meet an estimated 5 percent of...
Kentucky Coop Faces Breach of Contract Complaint
Posted on Oct 31, 2013 in Financing, Litigation, Project Development | Comments Off on Kentucky Coop Faces Breach of Contract Complaint
Nolin Rural Electric Cooperative and Trico/Tiger Development LLC (Trico/Tiger) face a complaint removed to federal court that alleges the two entities deprived a joint venture of profits stemming from a shale development project in Fort Knox, Kentucky. The joint venture, ITC Renewable, LLC, had been created by Trico/Tiger, ITI Group Corporation and Consolidated Energy Services Global,...
Webinar: Patronage Capital Litigation
Posted on Oct 29, 2013 in Corporate Governance, Derivative Suits, Financing, Litigation, Patronage Capital, Regulation & Policy, Tax, Webinar | Comments Off on Webinar: Patronage Capital Litigation
Since 2009, at least 14 cases have been filed against electric cooperatives over patronage capital (or capital credits) in eight states: Alabama, Arkansas, Georgia, Missouri, New Mexico, North Carolina, South Carolina, and Texas. To help coops understand the surge in this type of litigation, Sutherland will present a live Webinar, “Patronage Capital Litigation,” for...
Southeastern Coops Amend and Extend Lines of Credit
Posted on Oct 14, 2013 in Financing | Comments Off on Southeastern Coops Amend and Extend Lines of Credit
The National Rural Utilities Cooperative Finance Corporation (CFC) recently arranged transactions for two coops that will amend and extend their lines of credit. Winchester-based East Kentucky Power Cooperative (EKPC) was able to increase its $450 million, five-year syndicated revolving credit facility to $500 million and extend the credit facility’s maturity date to 2018. The...
Virginia Coop to Expand Landfill Project
Posted on Oct 10, 2013 in Financing, Land Use, Project Development | Comments Off on Virginia Coop to Expand Landfill Project
Northern Virginia Electric Cooperative plans to add approximately 5 MW to its 1.9-MW landfill-gas generation facility located at the Prince William County Landfill. The expansion should be in operation by late November and will cost approximately $11 million. Click here for more information.
Iowa Coop Refinances More Than $8 Million in Outstanding Debt
Posted on Oct 7, 2013 in Financing, Grid & Infrastructure, Project Development | Comments Off on Iowa Coop Refinances More Than $8 Million in Outstanding Debt
Raccoon Valley Electric Cooperative (RVEC), which serves parts of nine counties in west-central Iowa, has refinanced more than $8 million in outstanding debt with other lenders. After a January 2010 ice storm ravaged RVEC’s system, requiring millions of dollars in restoration and reconstruction work, the National Rural Utilities Cooperative Finance Corporation (CFC) provided an...
Vermont Net Metering Dispute Heats Up
Posted on Oct 3, 2013 in Energy Savings Programs, Financing, Project Development, Regulation & Policy, Renewable Energy | Comments Off on Vermont Net Metering Dispute Heats Up
Vermont Electric Cooperative (VEC) seeks to resume its net metering program after reaching the state’s 4% cap on mandatory net metering. VEC’s tariff proposal would adjust credits downward for new participants due to the rapid increase in demand and the decrease in prices associated with net metered solar energy systems. However, Renewable Energy Vermont opposes VEC’s proposal,...
Subscribe
