USDA Makes Historic $3.3B loan to build electric generation facility

(Washington, D.C., October 14, 2026) – Today, U.S. Secretary of Agriculture Brooke L. Rollins announced a historic $3.3 billion loan to Oglethorpe Power Corporation to help finance its Smarr Combined-Cycle electric generating facility in Monroe County, Georgia, during a visit to the construction site. This new facility will deliver dependable, affordable power for generations while helping meet America’s growing energy needs.

This loan is the largest ever delivered in the history of USDA Rural Development’s Rural Utilities Service and comes at a critical time for investing in American energy. As stated by President Trump, the United States is experiencing a surge in electricity demand from rapid technological advancements. This project strengthens the nation’s electrical grid, and lower-cost financing will help keep electricity affordable for Georgia families.

“Historic times call for historic actions, and this tremendous investment in America’s electric power grid is evidence of President Trump’s focus on powering our nation forward,” said Secretary Brooke L. Rollins. “Great things are happening with our rural electric cooperatives nationwide, and Oglethorpe Power is one example in Georgia through this project, which will generate reliable electricity, create jobs, and bring significant investment to rural America.”

“We are proud to partner with Oglethorpe on this significant investment in America’s rural energy infrastructure,” said USDA Under Secretary for Rural Development Glen Smith. “As we celebrate National Cooperative Month, this announcement highlights the vital role rural electric cooperatives play in powering our communities, supporting local economies, and strengthening American energy independence. President Trump and Secretary Rollins are doubling down on investments in our power grid to ensure rural America remains a driving force behind our nation’s economic prosperity.”

“This historic loan will allow us to build the reliable generation Georgia families, farms and businesses need at a lower cost, helping our member cooperatives keep electricity affordable for the communities they serve,” said Annalisa Bloodworth, President and CEO of Oglethorpe Power. “We are grateful to USDA and RUS for their longstanding partnership and for providing the lower-cost financing that helps electric cooperatives make critical investments in reliable, affordable power.”

Oglethorpe Power is a generation cooperative owned by 38 electric distribution cooperatives that serve nearly 5 million people across Georgia. It supplies wholesale power through a diverse energy portfolio that includes natural gas, coal, nuclear, and hydroelectric resources, helping its member cooperatives provide reliable, affordable electricity to the Georgians they serve.

For more information on USDA Rural Development investments in rural America, visit the Rural Data Gateway. The Rural Data Gateway is an online tool that strengthens USDA Rural Development partnerships with rural people, entrepreneurs, government officials and Congress by making agency investment data accessible to the public.

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