Back to Blog

OPALCO APPROVED FOR INFRASTRUCTURE PROJECT LOAN FROM USDA

Posted in Submarine Cables

OPALCO is among the 77 electric utilities recently approved for USDA Rural Utility Services (RUS) loans. OPALCO is approved for a loan of $17.1M to move forward with the submarine cable replacement for the Lopez to San Juan link, as forecast in our long-range and construction work plans. The loan amount also includes other transmission upgrade projects. Loan funds are not awarded in advance, but function as a line of credit, reimbursed as projects progress and as certified by RUS.

The US Agriculture Secretary Tom Vilsack today announced nearly $2.3 billion in loans to build and improve rural electric infrastructure in 31 states. The funding is provided through USDA Rural Development’s Electric Program, which makes loans and loan guarantees to non-profit and cooperative associations. Since 2009, USDA has funded $34 billion in electric loans and more than $1 billion for smart grid technologies.

A video about the OPALCO submarine cable project is available on YouTube.

Related Posts

View all blog entries

You may also like...

YR 2024 capitol

Youth Scholarship Winners

Each year, OPALCO selects five San Juan County students to represent OPALCO at the Youth Rally and to receive $1000 for their post high school education. This year’s winners are: … Read more
IR Board

Driving Change: A Local Non-profit Provides EV Rides to Communities in Need

In 2013, two San Juan Islanders, Bob Reilly and Curt VanHyning, saw a desperate need for free or affordable transportation services in Friday Harbor for disabled and elderly members of … Read more
map

Quick Fact: Northwest Resource Adequacy in a Rapidly Decarbonizing World

Northwest regional load is projected to double by 2050 due to the electrification of transportation and heating, which account for most greenhouse gas (GHG) emissions in the region. This has … Read more