Powder River Energy Corporation Receives $23.5 Million USDA Inflation Reduction Act Funding for Renewable Energy and Storage Infrastructure
CASPER, Wyo., Jan. 16, 2025 – U.S. Department of Agriculture (USDA) Rural Development Wyoming Acting State Director Janice Blare today announced a $23.5 million award to Powder River Energy Corporation (PRECorp) to support the installation of a renewable energy and storage system through the USDA Powering Affordable Clean Energy (PACE) program.
The PACE program is made possible by the Inflation Reduction Act (IRA), the largest investment in rural electrification since President Franklin Delano Roosevelt signed the Rural Electrification Act into law in 1936.
Powder River Energy Corporation, headquartered in Sundance, Wyoming, will use the $23.5 million PACE award to develop a solar facility and battery energy storage system totaling nearly 1.2 megawatts (MW) of renewable energy and 5 MW of energy storage in rural Wyoming. Over 2,100 single-axis tilt solar array panels will be installed on property owned by PRECorp; the panels will rotate and follow the sun’s path to absorb sunlight. The energy storage system will allow for the storage and release of electrical energy to reduce wholesale power supply costs for its members in Campbell, Crook, Johnson, Sheridan and Weston counties, as well as improve reliability for its members near the project site. The project will generate enough energy annually to serve an estimated 1,800 households. PRECorp’s PACE application was selected for 20% loan forgiveness.
“In just two years, the New ERA and PACE programs have created dozens of new partnerships with rural electric cooperatives and communities that will reduce pollution, create jobs and make clean energy more affordable for millions of rural Americans,” USDA Secretary Tom Vilsack said. “These investments we’re making today will continue to support the health, prosperity and well-being of rural Americans for generations to come.”
USDA has now obligated more than $1.6 billion in partially forgivable loans of PACE program funds for clean energy projects serving rural Americans nationwide. Additional details on all funding recipients and finalists are available on the PACE website.
USDA Rural Development provides loans and grants to help expand economic opportunities, support jobs and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and healthcare; and high-speed internet access in rural, Tribal and high-poverty areas. Visit the Rural Data Gateway to learn how and where these investments are impacting rural America.
To subscribe to USDA Rural Development updates, visit GovDelivery subscriber page.