Colorado Co-ops Deliver Power to Over 70 Percent of the State, Including Nearly 1.5 Million People
Washington, D.C. — Colorado U.S. Senator Michael Bennet welcomed the announcement of $537 million from the U.S. Department of Agriculture’s (USDA) Empowering Rural America (New ERA) program to help Colorado rural electric cooperatives modernize their energy infrastructure and offer clean, affordable, and reliable energy to rural communities. The announcement includes $225 million for CORE Electric Cooperative, $262 million for United Power, and nearly $50 million for Yampa Valley Electric Association. Bennet helped secure roughly $13 billion in the Inflation Reduction Act (IRA) to support rural clean energy initiatives through USDA, including nearly $10 billion for the New ERA program.
Bennet also welcomed the announcement that three additional rural electric co-ops in Colorado will move forward in the New ERA awards process: Grand Valley Rural Power Lines Inc., Mountain Parks Electric Inc., and San Miguel Power Association Inc.
“Colorado’s rural electric cooperatives are setting the standard for communities across the country working to move toward a clean energy future,” said Bennet. “This latest funding announcement builds on the billions of dollars being invested in our co-ops to upgrade their energy infrastructure, create high-paying jobs, and lower energy costs for farms, families, and small businesses in rural communities all over our state.”
“The New ERA funding is an integral part of CORE’s broader strategy to ensure reliable and safe power and maintain stable rates for our members, while in alignment with Colorado’s greenhouse gas reduction objectives,” said Pam Feuerstein, CEO, CORE Electric Cooperative.
“United Power is proud of our work to transition to a new energy portfolio that will both reduce carbon emissions and stabilize energy costs for our members – a journey we began in May of 2024,” said Mark A. Gabriel, President and CEO, United Power. “The New ERA grant will help us offset the cost to commission diverse, locally sourced power and provide low carbon electricity to serve one of Colorado’s fastest growing regions. United Power is honored to be recognized for our efforts by the USDA with the awarding of this generous grant.”
“YVEA is excited to take the next step in this funding process,” said Scott Blecke, CEO, Yampa Valley Electric Association. “We look forward to sharing more details as the plans for the Power Purchase Agreement take shape. This grant provides an opportunity to help stabilize energy costs through a long-term PPA while also bringing financial support to local communities through the Community Benefits Plan. This Plan will directly benefit our communities, supporting initiatives such as food banks, scholarships, and workforce development programs.”
In October, Bennet welcomed more than $2.5 billion in low-cost financing and grants from USDA’s New ERA program to support Tri-State Generation and Transmission Association’s clean energy transition at an event at Tri-State’s headquarters in Westminster, Colorado.
The New ERA program is a $9.7 billion program created in the IRA that helps rural electric cooperatives transition to clean, affordable, and reliable energy. It represents the largest investment in rural electrification since the New Deal. Bennet helped secure these investments alongside direct pay provisions in the IRA that allow rural electric cooperatives, public power companies, Tribes, and other entities without tax liability to access clean energy tax credits for the first time.