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Western Iowa Power Cooperative Received $11 Million USDA Loan For Electrical Infrastructure

A western Iowa power company, aptly named Western Iowa Power Cooperative, has been approved for an $11 million loan through the U.S. Department of Agriculture (USDA) Electric Infrastructure Loan and Loan Guarantee program for infrastructure improvements in nine counties. The cooperative, which is headquartered in Denison, serves nearly 6,000 customers across 2,000+ miles of line in Audubon, Carroll, Crawford, Harrison, Ida, Monona, Sac, Shelby, and Woodbury Counties. The company will use the low-interest loan funding to connect 220 additional customers and improve 62 miles of existing lines. The loan includes $2.1 million for “smart grid” technologies. In addition to the Western Iowa Power Cooperative project, two other companies were also selected by the USDA. Northwest Iowa Power Cooperative received a $3.5 million loan for infrastructure improvements, and Prairie Energy Cooperative received a $6 million loan for line expansions in their service area. Additionally, seven private individuals received a combined $95,523 in grants to install solar arrays for their businesses. These awards were part of a larger $5 billion announcement last week from the Biden Administration.

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