CFC Arranges $100 Million Credit Facility for Indiana Coop
Posted on Mar 26, 2013 in Financing | Comments Off on CFC Arranges $100 Million Credit Facility for Indiana Coop
Indianapolis-based Wabash Valley Power Association recently closed on a $100 million syndicated transaction arranged by the National Rural Utilities Cooperative Finance Corporation (CFC). In addition to CFC, four other lenders participated in the five-year senior unsecured revolving credit facility, but CFC will serve as administrative agent for the facility, which consolidates the...
Sequestration to Cause CREBs Payments to be Reduced by 8.7%
Posted on Mar 4, 2013 in Financing, Renewable Energy, Tax | Comments Off on Sequestration to Cause CREBs Payments to be Reduced by 8.7%
The Office of Management and Budget has issued its Report to the Congress on the budget sequestration for federal fiscal year 2013 required by the Balanced Budget and Emergency Deficit Control Act of 1985, as amended by the Budget Control Act of 2011. Interest subsidy payments for New Clean Renewable Energy Bonds (New CREBs) are among the federal programs impacted by sequestration. ...
Sequestration to Cause CREBs Payments to be Reduced by 8.7%
Posted on Mar 4, 2013 in Financing, Renewable Energy, Tax | Comments Off on Sequestration to Cause CREBs Payments to be Reduced by 8.7%
The Office of Management and Budget has issued its Report to the Congress on the budget sequestration for federal fiscal year 2013 required by the Balanced Budget and Emergency Deficit Control Act of 1985, as amended by the Budget Control Act of 2011. Interest subsidy payments for New Clean Renewable Energy Bonds (New CREBs) are among the federal programs impacted by sequestration. ...
New DOE Solar Funding Available to Cooperatives
Posted on Feb 27, 2013 in Financing, Renewable Energy | Comments Off on New DOE Solar Funding Available to Cooperatives
Cooperatives are eligible for two funding opportunities from the Department of Energy designed to make solar energy more competitive with other forms of energy. The programs are part of DOE’s SunShot Initiative and will each provide up to $12 million for administrative and physical costs associated with installation, interconnection and efficiency. To read more about these funding...
Government Announces New Funding for Rural Coops
Posted on Feb 18, 2013 in Energy Savings Programs, Environmental, Financing, Grid & Infrastructure, Technology | Comments Off on Government Announces New Funding for Rural Coops
In a recent announcement, John Padalino, USDA Rural Utilities Acting Administrator, stated that rural electric cooperatives and utilities in 12 states will receive loan guarantees to improve generation and transmission facilities and implement smart grid technologies. The statement was made during the annual meeting of the National Rural Electric Cooperative Association on behalf of...
Coop CFO Provides Insight on Capital Credits Strategy
Posted on Feb 11, 2013 in Corporate Governance, Financing, Patronage Capital | Comments Off on Coop CFO Provides Insight on Capital Credits Strategy
In a recent interview, Frank Skube, the chief financial officer of Texas-based Pedernales Electric Cooperative (PEC), discussed the challenges surrounding a revamp of the coop’s capital credits policy. PEC completed its capital credit retirement and distribution in December 2011, issuing nearly 217,000 bill credits to current members and 72,000 checks to former members. To read the...
Colorado Coop Closes on Syndicated Line of Credit
Posted on Jan 14, 2013 in Corporate Governance, Financing, Rates | Comments Off on Colorado Coop Closes on Syndicated Line of Credit
Brighton-based United Power, Inc. (UPI), which is a 100-percent National Rural Utilities Cooperative Finance Corporation (CFC) borrower, has closed on a $30 million syndicated line of credit arranged by CFC. The three-year unsecured line of credit replaces an existing perpetual line, and it is the second line of credit arranged by CFC for an electric distribution coop. The first line...
SMECO Looks to Expand Solar
Posted on Jan 3, 2013 in Financing, Land Use, Project Development, Regulation & Policy, Renewable Energy | Comments Off on SMECO Looks to Expand Solar
A 5.5-MW solar farm developed by Southern Maryland Electric Cooperative (SMECO) has proved worthwhile, and the coop is now looking to build a second solar facility. SMECO’s efforts will help it satisfy a Maryland state law, which requires utilities to generate 20 percent of their electricity from renewables by 2022, with two percent of that portion coming from solar energy produced in...
USDA Announces $6.1 Million in Rural Project Funding
Posted on Dec 20, 2012 in Financing, Project Development, Regulation & Policy | Comments Off on USDA Announces $6.1 Million in Rural Project Funding
The U.S. Department of Agriculture has announced its most recent series of grants and loans designed to boost economic development in rural communities. This latest round of funding will serve communities in seven Midwestern and Southern states and involves more than $6.1 million. See the press release for further details.
Southern Power to Supplement Cobb EMC
Posted on Dec 19, 2012 in Financing, Reliability | Comments Off on Southern Power to Supplement Cobb EMC
Starting in 2016, Georgia-based Cobb Electric Membership Corporation (EMC) will receive electricity from Southern Power, a subsidiary of Southern Company. The 325 megawatts of electricity to be provided annually will supplement Cobb EMC’s current generation resources for a seven-year period. Read more here.
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