The U.S. Department of Agriculture (USDA) announced a $598 million rural electric loan package to build or improve electric infrastructure in 11 states, including Missouri.

According to the USDA, this $15 million Rural Development investment will be used to connect 1,955 consumers, and build and improve136 miles of line. This loan includes $432,000 in smart grid technologies. Intercounty Electric Cooperative serves approximately 30,000 customers through 5,700 miles of line in 10 counties in Missouri. It is headquartered in Licking in Texas County.

USDA is investing in 11 projects through the Electric Loan Program. This funding will benefit 460,000 rural residents and businesses in the 11 states. Several of the loans will help expand smart grid technologies, which can be a catalyst for broadband and other telecommunications services in unserved and underserved rural areas.

USDA’s Electric Loan Program helps finance wind, solar and natural gas plants, as well as improvements to produce clean energy from coal-fired plants. Local utilities also use the loans to invest in infrastructure to deliver affordable power to millions of residential, commercial and agricultural consumers.