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Southern Illinois Power Cooperative Announces USDA Loan Approval

PRESS RELEASE 10-1-09 8:30am
News Contact - Southern Illinois Power Cooperative
W. Scott Ramsey (CEO)
Diane Karnes-Communications Coordinator

The U.S. Department of Agriculture announced yesterday the approval of a $29.5 million dollar loan guarantee for infrastructure improvements at Southern Illinois Power Cooperative (SIPC).

This money will be used on multiple transmission line additions and upgrades based upon SIPC’s 5 year construction work plan. The largest projects will consist of a 22 mile 161,000 volt line from Marion to Carrier Mills and a second 161,000 volt line of 25 miles from Carrier Mills to Gallatin County, IL. The low-interest loans are part of the USDA’s Rural Utility Service (RUS) program which makes electricity prices to rural America affordable.

“As electricity demand increases from homes, farms, and businesses SIPC must upgrade and extend its transmission system to provide power to its member distribution cooperatives. As we begin to add renewable generation resources our transmission system must be stronger and ready to serve”, said W. Scott Ramsey, President and General Manager. “We are certainly grateful for the assistance from the USDA program and support from Congressmen Jerry Costello and John Shimkus."

SIPC provides transmission and generation services to a population of more than 200,000 people thru its member-owners Southern IL Electric Cooperative, Southeastern IL Electric Cooperative, Egyptian Electric Cooperative Association, Tri-County Electric Cooperative, Clinton County Electric Cooperative, and Monroe County Electric Cooperative. Wholesale contracts are provided to the Cities of Redbud, IL, and Mcleansboro, IL. Clay Electric Cooperative will join SIPC in 2010 as its seventh member-owner.

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