Two Indiana electric cooperatives receiving $43 million in federal loans

Two Indiana electric cooperatives are receiving a combined $43 million in federal loans to improve their infrastructure. The U.S. Department of Agriculture awarded Southeastern Indiana REMC a $20 million loan and Tipmont REMC a $23 million loan.

The loans include nearly $6 million for smart grid improvements at Tipmont REMC and nearly $1.9 million at Southeastern Indiana REMC. The smart grid improvements increase the reliability of electric power by helping the utilities better manage the electric grid to improve efficiency.

The loans were among a total of nearly $2.3 billion to 77 utilities and cooperatives in 31 states.

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