New investment by USDA provides $398M for rural electric infrastructure upgrades
The US Department of Agriculture (USDA) has agreed to provide additional $398.5 million in loans to improve rural electric infrastructure across 13 U.S. states.
Made through the Electric Infrastructure Loan Program, the investment from the USDA will be used for projects in Arkansas, Colorado, Indiana, Iowa, Minnesota, Missouri, New Mexico, North Carolina, Ohio, Oklahoma, South Carolina, Texas and Virginia.
A lot of the projects will include implementation of smart grid technology.
The announcement follows USDA’s investment in August, where it agreed to provide $345.5 million to improve rural electric infrastructure across 14 states.