Agriculture Secretary Announces REDLG Funding Awards
Posted on Aug 6, 2012 in Financing | Comments Off on Agriculture Secretary Announces REDLG Funding Awards
Through the USDA’s Rural Economic Development Loan and Grant program (REDLG), the Department of Agriculture is funding projects in 12 states, including projects undertaken by a number of coops. For a list of projects, see the USDA’s press release.
Alaskan Coop Closes Deal with CFC for $100 Million Facility
Posted on Aug 6, 2012 in Financing | Comments Off on Alaskan Coop Closes Deal with CFC for $100 Million Facility
Chugach Electric Association, an Anchorage, Alaska-based coop, closed an “Amend and Extend” syndicated transaction with the National Rural Utilities Cooperative Finance Corporation (CFC). The coop’s CFO, Mike Cunningham, spoke highly of the experience with CFC stating that “[t]his facility provided us with low-priced, short-term financing for our power plant construction.” See the...
Coops to Purchase Electricity from Pennsylvania’s Largest Wind Farm
Posted on Jul 31, 2012 in Financing, Project Development, Renewable Energy | Comments Off on Coops to Purchase Electricity from Pennsylvania’s Largest Wind Farm
Old Dominion Electric Cooperative and Southern Maryland Electric Cooperative will purchase electricity produced from the future Mehoopany Wind Farm, a 141-MW wind generation project located near Scranton, Pennsylvania. The National Renewables Cooperative Organization assisted the coops with the long-term power purchase agreements. BP Wind Energy and Sempra U.S. Gas & Power have...
Pennsylvania Coop to Use $40 Million in Loans for Grid Upgrades
Posted on Jul 31, 2012 in Financing, Grid & Infrastructure, Project Development, Regulation & Policy, Reliability | Comments Off on Pennsylvania Coop to Use $40 Million in Loans for Grid Upgrades
The Adams Electric Cooperative, which serves counties in southeastern Pennsylvania, plans to use $40 million in low-interest loans recently awarded from the federal government to build and improve 200 miles of distribution line and to upgrade several substations. A portion of the money will also go to smart grid projects, such as the installation of automated switches that will allow...
Syndicated Transaction First of its Kind
Posted on Jul 26, 2012 in Financing | Comments Off on Syndicated Transaction First of its Kind
The National Rural Utilities Cooperative Finance Corporation (CFC) along with three other financial institutions arranged a $100 million syndicated transaction for Georgia-based Cobb Electric Membership Corporation (Cobb EMC). This is the first syndication arranged by the CFC for a distribution coop and will replace Cobb EMC’s multiple lines of credit with local banks. Click here for...
Georgia Coops No Longer Investing in Plant Washington
Posted on Jul 17, 2012 in Financing, Project Development | Comments Off on Georgia Coops No Longer Investing in Plant Washington
Power4Georgians has announced that Colorado-based private investment group Taylor Energy Fund LLC has assumed the cost of bringing a new coal-fired power plant, Plant Washington, to construction, relieving 10 Georgia coops of that obligation. The 850-megawatt plant is estimated to cost $2.1 billion and would be the first coal-fired plant built in Georgia in more than a quarter...
Rural Coops Positioned for Loan Guarantees
Posted on Jul 12, 2012 in Financing, Innovation/Efficiency, Project Development, Technology | Comments Off on Rural Coops Positioned for Loan Guarantees
Coops in 15 states will receive loan guarantees from the U.S. Department of Agriculture’s Rural Development program. The funds will help coops improve generation and transmission facilities and implement smart grid technologies. This batch of funding provides more than $10 million in smart grid technologies and is part of a larger USDA Rural Development funding goal of approximately...
Coops Tell Department of Energy Why Water Heaters Justify New Classification
Posted on Jul 12, 2012 in Environmental, Financing, Innovation/Efficiency, Regulation & Policy, Renewable Energy | Comments Off on Coops Tell Department of Energy Why Water Heaters Justify New Classification
The Department of Energy (DOE) has solicited comments from coops across the country to explain whether the cost-saving benefits of their demand response programs justify a new classification for large-capacity electric resistance water heaters under DOE regulations. Read more, including some of the specific comments, at Electric Co-op Today.
FERC Transmission Rule Source of Controversy
Posted on Jul 12, 2012 in Financing, Grid & Infrastructure, Innovation/Efficiency, Litigation, Mergers/Acquisitions, Regulation & Policy, Reliability, Renewable Energy | Comments Off on FERC Transmission Rule Source of Controversy
An investor-owned utility association, Edison Electric Institute, has requested that a federal court review the Federal Energy Regulatory Commission’s (FERC) controversial rule meant to spur new transmission investment. The rule requires utilities to create regional plans and a framework for cost allocation. The rule also introduces competitive bidding and new compliance...
CFC Funds Hydropower Plant 100 Years in the Making
Posted on Jul 5, 2012 in Environmental, Financing, Grid & Infrastructure, Project Development, Renewable Energy | Comments Off on CFC Funds Hydropower Plant 100 Years in the Making
Delta-Montrose Electric Association, based in Colorado, has broken ground on a hydropower plant whose plans date back to a visit from President William Taft in 1909. The $22 million in CREB financing will help pay for interest expenses for the plant. Natural Rural Utilities Cooperative Finance Corporation (CFC) applied for the CREBs on Delta-Montrose’s behalf in 2009. The CFC...
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