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USDA offers $65 million for rural Missouri electric projects

JEFFERSON CITY, Mo. — The Missouri Department of Economic Development announced today that two Missouri rural electric cooperatives have been offered more than $65 million by the United States Department of Agriculture. The projects include the installation of smart grid technology.

Ozark Border Electric Cooperative in Poplar Bluff was offered $51 million to build or improve 161 miles of power lines and make other improvements to their system. Macon Electric Cooperative in Macon was offered another $15.2 million to for similar improvements for 51 miles of line. The loans include a total of more than $2 million for smart grid projects.

The funding comes from the USDA Rural Development Electric Program, which makes insured loans and guarantees loans for non-profit and cooperative associations, public bodies and other utilities. The loans generally finance the construction of electric distribution facilities in rural areas.