The U.S. Dept. of Agriculture has awarded $2.7 billion in loans and loan guarantees to 64 electric utilities and co-operatives in rural areas in 28 states for projects to expand and better secure power grids.
The agency, which announced the list of loan recipients and dollar amounts on Jan. 30, said it is gearing up for an even larger amount of energy infrastructure loans. The Inflation Reduction Act enacted last year has $369 billion in climate-related provisions, including more than $12 billion earmarked for USDA loans and grants for clean energy and rural power projects, it noted.