Hoeven Announces USDA Rural Development Loan to Minnkota Power Cooperative

WASHINGTON – Senator John Hoeven, Ranking Member of the Senate Agriculture Appropriations Committee and a member of the Senate Agriculture Committee, today announced that the U.S. Department of Agriculture (USDA) Rural Development has issued a $80,560,000 loan to Minnkota Power Cooperative, headquartered in Grand Forks. Today’s funding, available through the USDA Electric Loan Program, will be used to finance improvements to the generation and transmission system benefitting nearly 137,000 consumers in North Dakota and northwestern Minnesota.

“Minnkota Power provides efficient, reliable electricity to residents in both North Dakota and Minnesota, and today’s funding announcement will support efforts to update and improve their electric infrastructure,” said Hoeven.