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...

campfire

Wildfire Readiness

Learn to build a resilient community The National Oceanic and Atmospheric Administration has predicted strong El Niño conditions for the Pacific Northwest in 2026. In this case, El Niño likely … Read more
cohort 17

Cultivating the Next Generation of Leaders

On April 24, OPALCO Communications Specialist Jo Lange successfully completed and graduated from the Leadership San Juan Islands program. The San Juan Islands-based program aims to help develop service-minded leaders … Read more
lopez school solar

Lopez Schools Go Big with Solar

Rooftop installation lays groundwork for a community resilience hub Lopez Island School District has started an ambitious solar project to help secure its energy future. This multiphase project is expected … Read more