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USDA Awards First Loans in the Rural Energy Savings Program
USAgNet - 05/11/2017

Acting Deputy Under Secretary Roger Glendenning announced that USDA is providing zero-interest loans to two rural energy providers to help business and residential customers lower energy use and costs.

"Funding commercial, farm and residential energy efficiency investments supports rural economies," Glendenning said. "These investments save money for consumers, create jobs in the community and help energy providers better manage costs."

USDA is awarding a $13 million Rural Energy Savings Program (RESP) loan to South Carolina's KW Savings Co. and a $1 million loan to the Northeast Ohio Public Energy Council (NOPEC). These are the first loans USDA is making through RESP. They are being provided through the Electric Program of USDA’s Rural Utilities Service, the successor to the Rural Electrification Administration.

The Electric Program makes loans and loan guarantees in rural areas to nonprofit and cooperative associations, public bodies and other utilities to help finance the construction of electric distribution and generation facilities.


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