The U.S. Department of Agriculture (USDA) announced a historic $3.3 billion loan to Oglethorpe Power Corporation to finance its Smarr Combined-Cycle electric generating facility in Monroe County, Georgia. The loan is the largest in USDA Rural Developmentās Rural Utilities Service history and aims to expand reliable electricity generation, strengthen the power grid, and help meet growing energy demand.
The project is expected to support job creation, rural economic development, and affordable electricity for Georgia families, farms, and businesses. Oglethorpe Power, a generation cooperative owned by 38 electric distribution cooperatives serving nearly 5 million people across Georgia, said the lower-cost financing will help deliver dependable power while keeping costs down for its member communities.
