Oconto Electric Cooperative granted $12.9 million federal loan

Oconto Electric Cooperative (OEC) is being granted a $12.9 million loan from the USDA Rural Development under its Electric Loan program.

The loan announced Jan. 30 is one of 64 projects totalling $2.7 billion in 26 states that the USDA says are designed to expand and modernize the nation’s rural electric grid and increase grid security.

“These critical investments will benefit rural people and businesses in many ways for decades to come,” Agriculture Secretary Tom Vilsack said in a news release. “This funding will help rural cooperatives and utilities invest in changes that make our energy more efficient, more reliable, and more affordable. Investing in infrastructure – roads, bridges, broadband and energy – supports good-paying jobs and keeps the United States poised to lead the global economy.”

According to the announcement, the loan to OEC will be used to connect 614 consumers and build and improve 157 miles of line. This loan includes $325,000 in “smart grid” technologies.

Oconto Electric is Headquartered in Oconto Falls, OEC serves more than 10,000 consumers over 1,500 miles of line in five counties in northeastern Wisconsin.