Department of Energy Urged to Expand Renewable Energy Grant Programs
Posted on Jul 17, 2015 in Financing, Grid & Infrastructure, Legislative & Politics, Reliability | Comments Off on Department of Energy Urged to Expand Renewable Energy Grant Programs
Representatives from Alaska, Hawaii, Guam and the U.S. Virgin Islands have urged the Department of Energy to expand grant programs to help reduce the relatively high capital costs of renewable energy installation projects facing operators of islanded, non-grid-connected communities and to make the projects economically feasible. Read more about the Alaska Village Electric Cooperative’s...
CFC Requests Waiver Under FCC’s Financing Rules
Posted on Jul 17, 2015 in Financing, Regulation & Policy | Comments Off on CFC Requests Waiver Under FCC’s Financing Rules
The National Rural Utilities Cooperative Finance Corporation (CFC) asked the Federal Communications Commission (FCC) to grant it an exception to allow the CFC to issue letters of credit to its members that are selected for projects under the FCC Rural Broadband Experiment program. The letters of credit would allow CFC members to access loans at lower rates than they could get from...
SEC Announces First Charges against Underwriters under MCDC Initiative
Posted on Jun 23, 2015 in Financing | Comments Off on SEC Announces First Charges against Underwriters under MCDC Initiative
On June 18 the U.S. Securities and Exchange Commission (SEC) announced enforcement actions against 36 municipal bond underwriters, the first enforcement actions against underwriters brought by the SEC under the Municipalities Continuing Disclosure Cooperation Initiative (MCDC Initiative), which was announced in March 2014. Click here to read more.
SMEPA Terminates Power Purchase Agreement for Kemper Power Plant
Posted on May 27, 2015 in Financing, Project Development, Rates | Comments Off on SMEPA Terminates Power Purchase Agreement for Kemper Power Plant
South Mississippi Electric Power Association (SMEPA) has announced that it has pulled out of a deal with Mississippi Power to purchase 15 percent of the power generated by the Kemper County power plant, which is currently under construction. SMEPA noted that its decision to terminate the purchase agreement was based on both the rising costs of electricity from the Kemper County plant...
Fitch Ratings Study Finds that Cooperatives Must Adapt to Maintain Stable Credit Quality
Posted on May 15, 2015 in Economic Downturn, Financing, Innovation/Efficiency, Rates, Renewable Energy, Technology | Comments Off on Fitch Ratings Study Finds that Cooperatives Must Adapt to Maintain Stable Credit Quality
A recent report by Fitch Ratings found that electrical cooperatives today face challenges created by changing technologies, slowing growth and changing consumer usage patterns. These challenges will require that cooperatives find ways to adapt if they want to maintain strong credit quality in the A to AA range. For example, one adaptation made by many cooperatives has been to decouple...
USDA Announces $100 million in Loans for Rural Electric Coop Utilities
Posted on May 12, 2015 in Financing, Grid & Infrastructure, Regulation & Policy | Comments Off on USDA Announces $100 million in Loans for Rural Electric Coop Utilities
Today the United States Department of Agriculture (USDA) announced $106.3 million in electric system infrastructure loans to rural electric cooperative utilities in four states. The loans include $9 million for smart grid improvements. The announcement comes during the 80th anniversary of the creation of the Rural Electrification Administration. Click here for more...
USDA Announces Funding for Infrastructure Projects
Posted on Apr 22, 2015 in Financing, Project Development, Renewable Energy | Comments Off on USDA Announces Funding for Infrastructure Projects
The United States Department of Agriculture (USDA) has announced $72 million in funding for six electric infrastructure projects, including several projects being developed by rural electric cooperatives. The projects include a transmission project in Kansas being developed by Rolling Hills Electric Cooperative, transmission and other system improvements by Broad River Electric...
USDA Extends Another $31 Million in Federal Loans and Grants to Electric Cooperatives
Posted on Apr 17, 2015 in Financing, Legislative & Politics, Project Development | Comments Off on USDA Extends Another $31 Million in Federal Loans and Grants to Electric Cooperatives
The U.S. Department of Agriculture (USDA) recently announced the extension of $31 million more in loans and grants to electric cooperatives in 12 states under the Rural Economic Development Loan and Grant (REDLG) Program. The USDA’s REDLG program extends zero-interest loans and grants to utilities, which then lend the funds to local businesses for job-creating projects in rural areas....
Mohave Electric Cooperative Serves Members with New Solar Facility
Posted on Apr 13, 2015 in Financing, Project Development, Renewable Energy, Tax | Comments Off on Mohave Electric Cooperative Serves Members with New Solar Facility
Arizona’s Mohave Electric Cooperative (MEC) is now purchasing power from a new utility-grade solar facility to supply its members with renewable power. The facility is currently owned by a private developer, whose appetite for the associated tax credits improved the economics of the deal for MEC and its members, and will be owned by MEC when the tax credits have been exhausted. Click...
USDA Awards $31 MM in Loans and Grants to Support Rural Economic Development
Posted on Mar 31, 2015 in Financing | Comments Off on USDA Awards $31 MM in Loans and Grants to Support Rural Economic Development
The Rural Economic Development Loan and Grant Program of the United States Department of Agriculture (USDA) announced the award of $31 million in loans and grants for 38 projects in 12 states to promote rural economic development. These revolving zero-interest loans provide funds to local businesses to help create jobs and expand rural manufacturing. See the full list of awards...
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