Central Electric Power Co-op to extend line with $70 million loan.

The U.S. Department of Agriculture will extend loans and loan guarantees to rural electric cooperatives and utilities through a new Electric Loan Program in 21 states including South Carolina.

Recipients will use the roughly $1.6 billion in total funding toward the construction and improvement of 9,138 miles of electric transmission and distribution line, according to a news release. About $387 million has been set aside for investments in smart grid technology, which uses digital communications to detect and react to electrical usage changes on a local level.

The program has extended a $70 million loan to build 35 miles of transmission line for South Carolina's Central Electric Power Cooperative, including a $758,000 investment for smart grid technologies. The cooperative provides electrical service to 20 retail cooperatives in 46 counties...