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Virginia co-op receives improvements financing

Tuesday - 5/6/2014, 1:52pm  ET

RICHMOND, Va. (AP) -- An electric cooperative serving Virginia's Eastern Shore and Smith Island in Maryland has received a $30 million federal loan guarantee to make improvements.

The U.S. Department of Agriculture says Tasley-based A & N Electric Cooperative plans to build or improve 196 miles of line and make other improvements to its system. The loan guarantee includes $3.5 million for smart grid projects.

The financing is among $540 million in loan guarantees announced Tuesday by Agriculture Secretary Tom Vilsack for projects in 18 states.


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