Cooperatives get part of $1.6 billion in USDA loans

Three electric cooperatives serving Oklahoma customers are among 46 nationally getting part of $1.6 billion in loans approved by the U.S. Department of Agriculture.

The largest is $133 million loaned to KAMO Electric Cooperative Inc. in Vinita. The money will be used to improve transmission lines serving customers in northeast Oklahoma and southwest Missouri.

A $48.7 million loan was made to Associated Electric Cooperative which services six generating and transmission organizations providing power to consumers in Oklahoma, Missouri and Iowa. AEC plans to use the money to purchase a coal-fired generating plant near Marston, Missouri.

A loan totaling $23.1 million was made to Central Rural Electric Cooperative of Stillwater. It will be used to build and improve lines and make other improvements to the system.