A Columbus-based electric cooperative is receiving a $200 million investment from the U.S. Department of Agriculture to pay for wind and solar projects.
The award announced Thursday to Nebraska Electric Generation & Transmission Cooperative Inc. is part of the USDA's Empowering Rural America Program. NEGT was one of 10 rural electric cooperatives to share in $4.37 billion in this round of funding.
The USDA did not say whether the $200 million is a grant or a loan, and NEGT General Manager Darin Bloomquist said he could not discuss specifics of the award, "because this process involves multiple entities that are under non-disclosure agreements involving details of how ultimately the award may be utilized."
According to a news release, the co-op, which has 20 members serving about 150,000 retail customers, will use the money to pay for wind and solar projects in Butler, Burt and Custer counties that will produce 725 megawatts of electricity, enough to power 170,000 homes annually.
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USDA said in the release the wind and solar projects will create 425 short- and long-term jobs and reduce greenhouse gas emissions by the equivalent of removing 482,000 gasoline-powered vehicles from the roads each year. It also is expected to reduce wholesale power rates by 1.5% per year over the life of the project.
“NEGT is grateful for the invitation and eagerly looks forward to collaborating with the Rural Utilities Service staff,” Bloomquist said in a statement. “Our goal is to provide low-cost, clean, renewable energy to the great state of Nebraska for many years to come.”
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On Twitter @LincolnBizBuzz.
Matt Olberding
Associate managing editor
