East River Electric Power Cooperative receives financing from USDA
HURON, S.D. – On March 11, U.S. Department of Agriculture Rural Development State Director for South Dakota Julie Gross and State Director for Minnesota Brad Finstad announced that USDA is investing over $198 million in East River Electric Power Cooperative, Inc. to upgrade the rural electric system and finance smart grid technologies that improve system operations and monitor grid security.
“A cornerstone to rural prosperity is modern and reliable electric infrastructure. The funding we are providing is important to both South Dakota and Minnesota and reflects our commitment to invest in critical infrastructure needs in rural communities. When rural America thrives, all of America thrives,” said Gross and Finstad.
USDA is providing financing through the Electric Loan Program. East River Electric Power Cooperative, Inc. is receiving $198,910,000 to make improvements to their headquarters’ facility, build new and updated substations, and build 135 miles and improve 469 miles of transmission line that will enhance system resilience and reliability. This loan includes funding for smart grid technologies, including 65 miles of fiber cable between substations to enhance communication capability.
East River is a generation and transmission electric cooperative headquartered in Madison, South Dakota. East River provides power to 25 rural electric utilities that serve 41 counties in eastern South Dakota and 22 counties in western Minnesota.