MANDAN, N.D. – August 17, 2015 – (RealEstateRama) –– Speaking at a press conference in Mandan, Senator John Hoeven, a member of the U.S. Senate Agriculture Subcommittee on Rural Development and Energy, today joined U.S. Department of Agriculture’s (USDA) Rural Development Under Secretary Lisa Mensah in announcing a $46 million loan to the Central Power Electric Cooperative to make important infrastructure improvements.
“As North Dakota’s economy and population continue to grow, it has become increasingly important to continue developing our electrical infrastructure to make sure that our citizens, especially those living in rural areas, have the electric reliability they need to power their homes, grow their businesses and meet the increased demand on important community services,” said Hoeven. “This loan will help Central Power make needed improvements to its electrical infrastructure, ensuring that the co-op will be better able to meet the demands of its growing number of customers.”
The loan is made available through the USDA’s Rural Utilities Service electric loans program. Specifically, the funds will be used to build-out 51 miles of transmission line and make system improvements to deliver reliable and affordable electricity. The loan also includes $171,000 for smart grid technology. Central Power currently serves more than 56,000 consumers across 25 counties.
Last year, Hoeven announced that the USDA had allocated more than $29 million in a loan guarantee to Central Power Electric Cooperative to improve rural electric service for North Dakotans. As a member of the U.S. Senate Agriculture and Appropriations Committees, Hoeven works to support rural development programs and to grow North Dakota’s rural communities.