The U.S. Department of Agriculture (USDA) has announced multiple loans under its Powering Affordable Clean Energy (PACE) Loan Program for 2024 and 2025. The program supports various electric cooperatives, utility authorities, and solar energy companies across multiple states. Notable recipients include Golden Valley Electric Association Inc. and Alaska Electric and Energy Cooperative, Inc., each receiving $100 million loans with subsidy costs of approximately $37.27 million in Alaska's AK-00 district. The Navajo Tribal Utility Authority in Arizona's AZ-01 district also received a $100 million loan with a $37.68 million subsidy cost. Other significant loans include Yakama Power in Washington (WA-04) with $94 million, Trico Electric Cooperative, Inc. in Arizona (AZ-06) with $83.5 million, and West Grand Ridge Solar, LLC in New Jersey (NJ-07) with $81 million. Loan subsidy costs generally range from around 30% to 40% of the loan amounts. The program extends to various districts, including Colorado, Nevada, Nebraska, Kentucky, Georgia, and others, supporting projects such as hydroelectric, solar, and rural electric cooperatives. Smaller loans, ranging from under $1 million to around $10 million, were also awarded to entities like Kauai Island Utility Cooperative in Hawaii and multiple affordable solar companies in Georgia. This initiative reflects USDA's ongoing efforts to finance clean energy infrastructure across diverse U.S. regions.
NRG Closes on Texas Energy Fund Loan for 456 MW Natural Gas Generation Project https://t.co/rJxRFQ8oPH https://t.co/fbbVZgZYZ9
Texas Approves $216 Million Loan for NRG’s New Houston Gas-Fired Power Plant https://t.co/oOnjeBhYAk
NRG received a $216 million, low-interest loan from the state-run Texas Energy Fund to build a new power plant in Houston https://t.co/wXnHMA2M9l