Illinois Rural Electric receives $25 million loan

By Ryne Turke on October 30, 2015 at 7:23am

Illinois Rural Electric Co-op is the only utility system in the state to receive part of a major loan from the USDA.

According to a press release, the local co-op will be getting $25 million out of $2.3 billion in loans geared toward building and improving electric infrastructure in 31 states.

The funding includes $108 million for smart grid technology, $41 million for renewable energy improvements and $9 million for storm damage repairs.

Since 2009, USDA has funded $34 billion in electric loans and more than $1 billion for smart grid technology.