Hawaiian Coop Explores Fuel Options
Posted on Oct 3, 2013 in Financing, Regulation & Policy, Renewable Energy | Comments Off on Hawaiian Coop Explores Fuel Options
With its fuel supply contract set to expire in April 2015, Kaua’i Island Utility Cooperative has requested information from prospective fuel suppliers to determine whether alternatives to oil are feasible. State officials would like to see the coop turn to liquefied natural gas. The coop must also consider its goal of 50% or more renewable sources by 2023. Click here for the full...
G&Ts Work Together to Negotiate Indentures
Posted on Sep 30, 2013 in Corporate Governance, Financing | Comments Off on G&Ts Work Together to Negotiate Indentures
A group of 10 regional generation and transmission (G&T) cooperatives recently worked with the Rural Utilities Service (RUS) to convert existing mortgages to indentures, facilitating easier access to private financing for the electric coops they serve in Missouri, Oklahoma, Iowa, North Dakota, and South Dakota. Through the conversions, which were successful in part due to the...
Coop Uses Crowdfunding to Create Additional Wind Power
Posted on Sep 30, 2013 in Climate Change, Environmental, Financing, Project Development, Renewable Energy | Comments Off on Coop Uses Crowdfunding to Create Additional Wind Power
East River Electric Cooperative (EREC), a supplier of electric power for rural areas of South Dakota and Minnesota, is using crowdfunding to add more wind power to its portfolio. Crowdfunding is a new method through which many writers, artists, designers, and entrepreneurs get their projects funded by strangers. EREC crowdfunded from the communities it serves to finance a portion of...
Louisiana Coop Looks to Grow With CFC Financing Deal
Posted on Sep 23, 2013 in Financing, Grid & Infrastructure | Comments Off on Louisiana Coop Looks to Grow With CFC Financing Deal
Jefferson Davis Electric Cooperative (JDEC), based in Jennings, Louisiana, has refinanced more than $10.7 million in outstanding debt with other lenders, becoming a 100-percent National Rural Utilities Cooperative Finance Corporation (CFC) borrower. JDEC is expecting substantial growth over the next decade as a result of the ongoing boom in domestic natural gas production. Click here...
Patronage Capital Returned for First Time
Posted on Sep 19, 2013 in Financing, Patronage Capital | Comments Off on Patronage Capital Returned for First Time
For the first time in its 75-year history, Vermont Electric Cooperative will return $850,000 to members who were with the coop during 1997 and 2012. Previously the coop would reinvest patronage capital in system upgrades or to fill capital requirements for power agreements. Click here for more information.
Alaska Coop Finalizes Financing to Purchase Plant
Posted on Sep 16, 2013 in Climate Change, Environmental, Financing, Legislative & Politics, Project Development, Regulation & Policy, Reliability | Comments Off on Alaska Coop Finalizes Financing to Purchase Plant
Golden Valley Electric Association (GVEA) of Fairbanks, Alaska, has finalized financing from the Rural Utilities Service (RUS) and the Cooperative Finance Bank to purchase the 50-MW Healy Clean Coal Project from the State of Alaska. The Cooperative Finance Bank will finance the purchase of the plant, which will be renamed “Healy Unit 2,” while the RUS loan will finance new emissions...
USDA Announces Funding for Coop Projects in Seven States
Posted on Sep 13, 2013 in Energy Savings Programs, Financing, Regulation & Policy | Comments Off on USDA Announces Funding for Coop Projects in Seven States
In a news release, the Secretary of Agriculture has announced funding for a variety of projects through the Rural Utilities Service of the U.S. Department of Agriculture (USDA). The projects include, among other things, funding for smart grid technology and improvements on Native American lands across seven states: Iowa, Kansas, Minnesota, Missouri, Oklahoma, Texas, and Wyoming. Read...
South Carolina Coop Planning Industrial Spec Building
Posted on Sep 12, 2013 in Financing, Land Use, Technology | Comments Off on South Carolina Coop Planning Industrial Spec Building
A subsidiary of Pee Dee Electric Cooperative (Pee Dee) is planning to construct a 100,000-square-foot industrial spec building in Pee Dee Touchstone Energy Commerce City. The industrial park, located in Florence County, South Carolina, has already attracted several Fortune 500 businesses. The project will cost an estimated $7.1 million and will be funded by Pee Dee, the county of...
Coop Reporting Rules Modified by RUS
Posted on Sep 10, 2013 in Financing, Renewable Energy | Comments Off on Coop Reporting Rules Modified by RUS
The Rural Utilities Service (RUS) reportedly plans to remove disincentives to electric coop participation in relending activities that involve rural development loan programs and energy efficiency. This move is in response to a request by the National Rural Electric Cooperative Association that coop participation in certain loan and relending programs not lead to procedures that would...
CFC Announces Pilot Program with NRCO and Federated
Posted on Sep 9, 2013 in Financing, Renewable Energy, Technology | Comments Off on CFC Announces Pilot Program with NRCO and Federated
The National Rural Utilities Cooperative Finance Corporation (CFC) is working with the National Renewables Cooperative Organization (NRCO) and Federated Rural Electric Insurance Exchange (Federated) to promote a more efficient process for the development of solar projects by coops. NRCO will play a guiding role in the program by advising coops on project management, marketing and...
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