Colorado power utility gets $15.8M USDA loan for improvements
Author: Colorado Politics - August 6, 2018 - Updated: August 6, 2018
A Pueblo-based power utility is being issued a $15.8 million federal loan as part of a $345.5 million investment in rural electric facilities announced Monday by the U.S. Department of Agriculture.
The $15,836,000 loan is to the Pueblo West-based San Isabel Electric Association, which serves about 24,000 meters in several southern Colorado counties.
“This rural development investment will be used to build 63 miles of line, improve 143 miles and make other system improvements,” Monday’s USDA announcement said. “The loan amount includes $752,021 for smart grid projects.”
San Isabel Electric serves customers in parts of Costilla, Custer, Huerfano, Las Animas, Otero and Pueblo counties.
In all, USDA announced financial backing for 20 infrastructure projects to improve rural electric service in 14 states through its Electric Infrastructure Loan Program.
“Delivering reliable and affordable electricity to power rural America will help lay the groundwork for increased rural prosperity and economic opportunity,” Agriculture Secretary Sonny Perdue said in a statement. “USDA is partnering with rural electric utilities and cooperatives so they can continue to invest in infrastructure improvements to provide electric power to those who live and work in rural areas.”