Bennet, Hickenlooper welcome up to $1.1 billion from Inflation Reduction Act for rural electric cooperatives in Colorado

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Up to $679 million will be allocated to Tri-State Generation and Transmission Association to procure renewable energy including solar, wind, and battery storage and to support the retirement of coal-fired power generation while maintaining energy reliability. Eli Pace/Craig Press Colorado U.S. Senators Michael Bennet and John Hickenlooper welcomed $7.3 billion from the U.S. Department of Agriculture’s (USDA) Empowering Rural America (New ERA) program to help rural energy and utility providers bring affordable, reliable clean energy to their communities across the country.

The announcement includes up to $1.16 billion for three providers in Colorado. Bennet helped secure nearly $13 billion in the Inflation Reduction Act to support rural clean energy initiatives through USDA, including the New ERA program.

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 is part of the largest investment in rural electrification since the New Deal. This funding includes investments for three of Colorado’s rural electric cooperatives:

Up to $679 million to Tri-State Generation and Transmission Association to procure renewable energy including solar, wind, and battery storage and to support the retirement of coal-fired power generation while maintaining energy reliability;

$261 million to United Power to offset the cost of its transition to a strategic, clean energy portfolio; and

$225 million to CORE Electric Cooperative to procure renewable energy sources including wind, solar, and batteries through several power purchase agreements.

In December 2023, Bennet called on USDA to focus its awards on projects that maximize greenhouse gas emission reductions and to follow the IRA’s intent to make clean energy more reliable and affordable for Americans living in rural communities.

In May 2023, Bennet joined USDA Secretary Tom Vilsack and Biden administration leaders at the White House to announce nearly $11 billion in rural clean energy grants and loan opportunities — including $9.7 billion through the New ERA program. This funding was part of the nearly $13 billion Bennet championed in the IRA to accelerate clean energy deployment, create local economic opportunities and lower costs for families in rural communities.

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Bennet, Hickenlooper welcome up to $1.1 billion from Inflation Reduction Act for rural electric cooperatives in Colorado

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