Two area power co-ops land federal loans to make upgrades

Two rural electric cooperatives that provide power to customers in the Indianapolis area are set to receive federal loans to improve their systems.

The U.S. Department of Agriculture announced last week that Martinsville-based South Central Indiana REMC will use a $100 million loan to build 28 miles of line, improve 153 miles and make other system improvements. South Central Indiana REMC serves 33,500 residential and commercial consumers in Morgan, Monroe, Brown, Owen, Putnam, Clay, and Johnson counties.

Linden-based Tipmont REMC will use a $61 million loan to build 33 miles of line, improve 95 miles and make other system improvements. The loan includes $42 million for smart grid projects. Tipmont serves more than 27,000 consumers in Benton, Boone, Carroll, Clinton, Fountain, Montgomery, Tippecanoe and White counties in western Indiana.

Smart grid technologies improve system operations and monitor grid security.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.