A Columbus-based electric cooperative has been awarded a $200 million investment from the U.S. Department of Agriculture (USDA) to support the development of wind and solar energy projects. The Nebraska Electric Generation & Transmission Cooperative Inc. (NEGT) was one of 10 rural electric cooperatives nationwide to receive funding from the USDA’s Empowering Rural America Program, which allocated a total of $4.37 billion in this round.
The USDA did not specify whether the $200 million is a grant or loan. NEGT General Manager Darin Bloomquist stated that details of the award could not be disclosed due to non-disclosure agreements involving multiple entities.
According to a news release, NEGT, which serves 20 member organizations and approximately 150,000 retail customers, plans to use the funding for renewable energy projects in Butler, Burt, and Custer counties. These projects are expected to generate 725 megawatts of electricity, enough to power 170,000 homes annually.
In addition to providing renewable energy, the projects are anticipated to create 425 short- and long-term jobs. The USDA noted that the projects will also reduce greenhouse gas emissions, equating to removing 482,000 gasoline-powered vehicles from the road each year. Wholesale power rates are expected to decrease by 1.5% annually over the lifespan of the projects.
Bloomquist expressed gratitude for the investment, stating, “NEGT is grateful for the invitation and eagerly looks forward to collaborating with the Rural Utilities Service staff. Our goal is to provide low-cost, clean, renewable energy to the great state of Nebraska for many years to come.”
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