North Dakota Ag Connection - Over $87.4 Million in Funds for N.D. Energy Cooperatives

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Over $87.4 Million in Funds for N.D. Energy Cooperatives
North Dakota Ag Connection - 11/19/2018

Senator John Hoeven, chairman of the Senate Agriculture Appropriations Committee, announced that the U.S. Department of Agriculture (USDA) Rural Development has approved two loans totaling nearly $87.4 million for Minnkota Power Cooperative and Grand Electric Cooperative. Details of the funding are as follows:

Minnkota Power Cooperative -- $67,396,000 -- The funding will be used to make generation and transmission improvements.

Grand Electric Cooperative -- $20,000,000 -- The funding will be used to build 24 new miles and improve 156 miles of distribution and transmission line, and make other system improvements, including $70,000 in smart gird technologies.

"Electric cooperatives provide residents throughout our state, especially in our rural areas, with reliable and affordable electricity," said Hoeven. "Today's investments will help ensure North Dakotans will continue to have access to the electricity they need to power and heat their homes and businesses."

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