The US Department of Agriculture is investing $235 million to help seven North Carolina electric cooperatives. The investment is designed to expand and modernize the states rural electric grid and increase grid security. The funding will help rural cooperatives and utilities invest in changes that make our energy more efficient, more reliable, and more affordable.
In our area, French Broad Electric Membership Cooperative, which serves Buncombe, Madison, Mitchell and Yancey counties, is receiving a $45 million loan to connect 4,138 consumers, and build and improve 373 miles of line. This loan includes $1,911,500 in smart grid technologies.
According to Rural Development State Director Reginald Speight, “USDA Rural Development is in a unique position to help rural communities build, maintain and improve electric infrastructure. These investments support the local economy by making rural communities attractive, economically viable and safe places to live and work. This helps create and save jobs by attracting and retaining employers and workers.”
