Hoeven Announces USDA Funding for Central Power
WASHINGTON – Senator John Hoeven today announced that the U.S. Department of Agriculture (USDA) has allocated more than $29 million in a loan guarantee to Central Power Electric Cooperative, Inc. to improve rural electric service for North Dakotans.
“As North Dakota’s economy and population continue to grow, it has become increasingly important to continue developing the state’s electrical infrastructure to ensure that our citizens, especially those living in more rural areas, have the electric reliability they need to power their homes, grow their businesses and meet the increased demand on vital community services, including health care and education,” said Hoeven. “The USDA’s decision to invest in Central Power will help the company make needed improvements to its electrical infrastructure ensuring that the co-op will be better able to serve North Dakotans’ increased demand for electrical service.”
The loan guarantee directed to Central Power is made available through the USDA’s rural utilities program and will be used to upgrade existing facilities and to build one new substation and 56 miles of line. The loan will help Central Power meet the demands of its growing number of customers. Central Power currently serves more than 56,500 farms, homes and businesses located in 25 counties in central and southeastern North Dakota.
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