Missouri Coop Closes Deal with CFC
Posted on Jun 25, 2012 in Financing | Comments Off on Missouri Coop Closes Deal with CFC
Butler-based Osage Valley Electric Cooperative recently became The National Rural Utilities Cooperative Finance Corporation’s (CFC) newest 100-percent borrower, closing two transactions this spring. The 30-year loans, totaling approximately $33 million, will reportedly be used to refinance existing debt. To read more about the deal, click here.
Illinois Coop Closes $65 Million Syndication
Posted on Jun 18, 2012 in Financing | Comments Off on Illinois Coop Closes $65 Million Syndication
Marion-based Southern Illinois Power Cooperative (SIPC) and The National Rural Utilities Cooperative Finance Corporation (CFC) recently arranged a four-year, $65 million unsecured revolving credit facility. CFC acted as lead arranger and lead lender in the transaction, which replaced a portion of an earlier syndication for SIPC. The funds will be used for general corporate purposes,...
Financing Secured for Two Iowa Wind Projects
Posted on Jun 18, 2012 in Financing, Project Development, Renewable Energy | Comments Off on Financing Secured for Two Iowa Wind Projects
With Rabobank and BayernLB providing credit facilities, the 36-MW Hawkeye and 50-MW Rippey wind farm projects continue to move forward. RPM Access, the developer, anticipates that the projects will be completed this fall. Central Iowa Power Cooperative has agreed to purchase energy from the facilities under long-term power purchase agreements. Read more here.
Rayburn Electric Receives ‘A-’ Credit Rating from S&P
Posted on Jun 13, 2012 in Financing | Comments Off on Rayburn Electric Receives ‘A-’ Credit Rating from S&P
Rayburn Country Electric Cooperative, Inc. has received ‘A-‘ Issuer credit rating from Standard & Poor’s Ratings Services (S&P). Click here for additional details .
Alaska Coop to Reduce Costs With New Fuel Delivery Boats
Anchorage-based Alaska Village Electric Cooperative (AVEC) christened two sets of tugs and barges, which will help the coop cut fuel costs. AVEC serves 54 remote villages and spends more than half of its gross revenue on diesel fuel for generation. AVEC entered into a long-term delivery contract with Anchorage-based Vitus Marine, LLC (Vitus), agreeing to provide upfront costs for its...DOE Extends $8 Billion Loan Guarantee for Nuclear Plant
Posted on Jun 11, 2012 in Financing, Grid & Infrastructure, Project Development, Regulation & Policy | Comments Off on DOE Extends $8 Billion Loan Guarantee for Nuclear Plant
The Department of Energy has extended its conditional commitment to the end of the year to provide an $8.3 billion federal loan guarantee to help finance the nuclear expansion of Plant Vogtle in Georgia. Southern Company officials initially said the agreement would be finalized by the end of June. Southern Company subsidiary Georgia Power Company and nuclear partners Oglethorpe Power...
Kansas Coop, NCSC and CFC Finalize $100 Million Credit Deal
Posted on May 21, 2012 in Financing | Comments Off on Kansas Coop, NCSC and CFC Finalize $100 Million Credit Deal
The National Cooperative Services Corporation (NCSC) recently finalized a $100 million credit deal for Mid-Kansas Electric Company, LLC. NCSC acted as the lead lender in a syndicated credit facility. The National Rural Utilities Cooperative Finance Corporation (CFC) was lead arranger and will serve as administrative agent for the three-year unsecured revolving credit facility. The...
With Help of CFC, Texas Coop Secures $115 Million in Financing for Renewable Projects
Posted on May 14, 2012 in Environmental, Financing, Project Development, Renewable Energy | Comments Off on With Help of CFC, Texas Coop Secures $115 Million in Financing for Renewable Projects
The National Rural Utilities Cooperative Finance Corporation (CFC) recently helped Nacogdoches, Texas-based East Texas Electric Cooperative (ETEC) secure $115 million through a syndicated credit facility. CFC and Regions Bank, based in Birmingham, Alabama, participated in a four-year, unsecured revolving credit transaction in which CFC will serve as the administrative agent. ETEC...
Wisconsin Regulators to Decide on Transmission Project
Posted on May 10, 2012 in Financing, Grid & Infrastructure, Project Development | Comments Off on Wisconsin Regulators to Decide on Transmission Project
At a meeting Thursday, the Public Service Commission of Wisconsin was expected to decide whether to approve a power line that would run between Alma and Holmen in western Wisconsin. Northern States Power Company, Dairyland Power Cooperative and WPPI Energy are all working on this $234 million project. Read more here.
Rural Coops to Receive Millions in Loans to Improve Infrastructure and Install Smart Grid Technologies
Posted on May 7, 2012 in Financing, Grid & Infrastructure, Innovation/Efficiency, Project Development | Comments Off on Rural Coops to Receive Millions in Loans to Improve Infrastructure and Install Smart Grid Technologies
Agriculture Secretary Tom Vilsack has announced that rural electric coops in 10 states will receive loans, worth $334 million total, to install smart grid technologies and make improvements to their facilities. The loans will be provided by the USDA Rural Development’s Rural Utilities Service. The new funding includes almost $20 million to install smart grid technologies. In...
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