USDA’s Rural Development Agency has announced the awarding of a significant loan for a group of electric cooperatives in Missouri to upgrade their electric systems. The Central Electric Power Cooperative will receive a $72 million loan to finance improvements to electric distribution and transmission facilities in their eight local co-ops, stretching across 28 counties in Central and Eastern Missouri. The funds will also go toward constructing backup control center facilities to ensure the continuity of operations in the event of catastrophe. The co-ops benefiting from this work include Sedalia’s Central Missouri Electric Co-Op and the Co-Mo Electric Co-Op of Tipton.
Electric utilities in 12 other states were also awarded loans totaling $485 million. Joel Baxley, the acting assistant to the secretary for Rural Development, said the loans would enhance rural economic development and help improve the quality of life for people who live and work in rural America.