Hoosier Rural Electric Co-ops Land $161M in USDA Loans
(Image courtesy of the South Central Indiana REMC.)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowTwo power cooperatives in Indiana will receive tens of millions of dollars in loans through a U.S. Department of Agriculture program. South Central Indiana REMC & SCI Security LLC in Martinsville has been awarded $100 million in funding and the Linden-based Tipmont REMC $61 million for infrastructure projects designed to boost reliability and resilience of electricity delivery.
SCI REMC’s investment plans call for 28 miles of new line, 153 miles of improved line, system improvements and new smart grid technologies. The cooperative serves 33,500 residents and currently has some 3,600 miles of line.
Tipmont, which has customers in Benton, Boone, Carroll, Clinton, Fountain, Montgomery, Tippecanoe and White counties, is looking to build 33 new line miles, improve 95 miles, make system improvements and install smart grid tech. Its current footprint includes nearly 2,700 miles of line serving over 27,000 customers.
In all, the USDA’s investment totals $1.6 billion for 46 rural electric utility infrastructure projects in 24 states. Assistant to the Secretary for Rural Development Anne Hazlett says "reliable and affordable power is an underpinning for economic development and quality of life. Under the leadership of Secretary Sonny Perdue, USDA is committed to being a strong partner in building prosperity in rural communities through the sustainment and modernization of rural electric infrastructure."
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