The Cedar Rapids-based cooperative will use the funds to build and upgrade 115 miles of transmission line and make other system improvements which would improve electric services in 51 Iowa counties.
USDA deputy under secretary for rural development Doug O’Brien was quoted by The Gazette as saying that the CIPCO loan guarantee also includes support for $866,000 in smart grid technologies.
"A smart grid provides real time information for the consumer and the cooperative to more efficiently manage their use of electricity," O’Brien said.
O’Brien added that the funding for the CIPCO loan guarantee will be provided by USDA Rural Development’s Rural Utilities Service.
