The USDA has announced that the Minnesota Valley Electric Cooperative will receive a $31 million loan under the Electric Infrastructure Loan and Loan Guarantee Program. The loan to MVEC will be used to build 83 miles of power line, improve 122 miles and make other system improvements, including nearly $1.6 million in smart grid technologies to serve 42,000 residents and a mix of small and large diverse commercial consumers over a 968-square-mile service territory, which includes portions of Dakota County. USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas.
