December 30, 2013

Minnkota line gets $46.3 million in loans

By April Baumgarten

250-mile transmission line has received $46.3 million in loans, officials said.
Jasper Schneider, U.S. Department of Agriculture Rural Development state director, announced in a press release more than $170 million has been loaned to fund electric utility infrastructure in North Dakota, including the Center to Grand Forks Project.
“With the growth in North Dakota also comes the need to build out our utility infrastructure,” he said. “The funding announced today will help our RECs meet the demands of private sector industry growth and population increases.”
The loan comes after Minnkota Power Cooperative Inc. incurred additional costs for 345-volt transmission line. A wet spell in October pushed back the fall deadline to spring, according to a company newsletter. The project is approximately 80 percent complete, Minnkota Power communications supervisor Kevin Fee said.
“We are just pleased to be closing in on this project,” he said. “It’s going to be a great thing once it is done.”


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