Biden Administration Awards Funding to Colorado Rural Electric Cooperatives to Support Clean Energy Transition

This funding will play a critical role in achieving 100% clean electricity in Colorado by 2040 while saving rural Coloradans money on energy costs

Statewide - Thursday, Sept. 5, 2024 - Today, the Biden administration announced funding for the Tri-State Generation and Transmission Association (Tri-state), United Power, and CORE Electric Cooperative to reduce emissions, improve air quality, and save rural utility customers money on electricity costs. This funding comes from the U.S. Department of Agriculture's (USDA) Empowering Rural America ("New ERA") program, which was established by the Biden administration's landmark Inflation Reduction Act.

"Colorado is leading the nation in clean energy action and I'm proud to see Colorado's rural electric cooperatives receive this funding to expand their clean energy portfolios and help save Coloradans money on electricity. This funding will help Colorado achieve our bold climate goals, improve air quality, save people money, and support rural Colorado communities," said Governor Jared Polis.

The funding that USDA awarded Tri-State will enable the electric cooperative to implement its preferred portfolio from its electric resource plan, which the Public Utilities Commission approved in August. New ERA funding will help support the addition of 255 megawatts (MW) of owned renewable energy, 1,380 MW of renewable and hybrid power purchase agreements, and 210 MW of battery storage; while facilitating the retirement of Tri-state's two remaining coal-fired power plants by the end of 2031.

United Power's award will provide support for more than 760 MW of clean power, including 300 MW of solar, hydropower, and wind energy through power purchase agreements and 460 MW of additional solar generation from member projects. These projects are expected to reduce annual emissions by more than 2.1 million tons, the equivalent of removing pollution from electricity use in more than 400,000 homes.

CORE Electric Cooperative will receive money to support 550 MW of new wind and solar energy resources and 100 MW of energy storage through power purchase agreements.

"The electric power sector has been among the largest contributors of greenhouse gas pollution in Colorado, making clean electricity critical to achieve net-zero emissions by 2050," said Colorado Energy Office Executive Director Will Toor. "Colorado has an ambitious goal to achieve 100% clean electricity by 2040, and utilities across the state continue to show that they're up for the challenge. We are so grateful for all the federal funding opportunities created in the Inflation Reduction Act, and we appreciate the USDA for investing in Colorado's nation-leading work to bring low-cost, zero-emission electricity to rural Coloradans. Colorado's utilities and electric cooperatives are already on track to achieve up to an 88% reduction in greenhouse gas emissions by 2030 from a 2005 baseline, and this funding will ensure we continue to make rapid progress towards affordable clean energy for all."

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