Graves Announces $126 Million Electric Infrastructure Loan, Benefiting Seven Parishes in South Louisiana
WASHINGTON, DC – U.S. Congressman Garret Graves (South Louisiana) announced a $126,356,000 loan for Dixie Electric Membership Cooperative from the U.S. Department of Agriculture (USDA). Information about the loan can be found below or here.
- Program: Electric Infrastructure Loan and Loan Guarantee Program
- Parishes: St. Helena, Livingston, West Feliciana, East Feliciana, East Baton Rouge, Tangipahoa, Ascension
- Project Description: This Rural Development investment will be used to connect 11,368 consumers, and build and improve 640 miles of line. This loan includes $4,539,666 in smart grid technologies (communication cable) for 8.4 miles of fiber for connection from the Watson substation to the Live Oak substation and to the Indian Mound substation. Dixie Electric serves an average of 110,312 members over 8,679 miles of line in the seven counties in Louisiana.
- Loan Term: 30 years
- People Who Will Benefit: 11,368
- Total Project Cost: $126,356,000.00
Background: USDA is providing loans and loan guarantees to rural electric cooperatives and utilities through the Electric Loan Program. The recipients will use the funds to build and improve 9,138 miles of electric transmission and distribution line, benefiting 1 million rural residents and businesses. The loans include nearly $386 million for investments in smart grid technology, which uses digital communications to detect and react to local changes in electricity usage.
In total, the USDA announced they are investing $1.6 billion to build or improve rural electric infrastructure in 21 states. The full list of recipients can be found here. Click here for the USDA release.