Carroll Electric Cooperative Corporation to receive $263 million in loans to improve electrical grid in Arkansas and Missouri
Washington, May 31, 2019
Washington, D.C. – The United States Department of Agriculture announced that they will be providing $858 million in loans to upgrade rural electric systems in 17 states, including Missouri and Arkansas. The Carroll Electric Cooperative Corporation in Berryville, Arkansas will receive over $263 million in loans to improve grid reliability throughout Arkansas and southwest Missouri.
I am pleased to hear that the Carroll Electric Cooperative will be receiving a loan from the USDA to improve grid reliability,” said Rep. Long. “Improving the reliability of our electrical grid is an essential part of updating our nation’s infrastructure, creating jobs, and growing the economy. The importance of improving and modernizing the rural electrical grid cannot be understated and I am thrilled that the USDA has selected the Carroll Electric Cooperative to receive a substantial portion of these loans.”
Congressman Womack said, “Our electric infrastructure must be able to meet the energy needs of the future. This investment will unleash new opportunities, helping to enhance grid reliability, create jobs, grow economic opportunity, and support our rural communities. Carroll Electric keeps our homes and businesses powered, and I am pleased that the USDA has recognized their vital importance. A modernized energy infrastructure will allow us to meet the connectivity needs of our district for generations to come.”
This Rural Development Investment will be used to improve electric grid reliability and security for 998 miles of transmission and distribution line. Carroll Electric will use $8.5 million of the loan to invest in smart grid technologies to improve system communications for 13,260 new customers. Carroll serves 92,274 customers across 10,613 energized lines in 11 counties in Arkansas and Missouri.