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January 14, 2025 | Tom Ballard

Seven States Power Corporation receives $439 million in federal funding

The funding, which is earmarked for new energy initiatives, will provide low-cost affordable power to nearly 10 million people.

Seven States Power Corporation, based in Chattanooga, has been awarded $439 million in federal funding through the U.S. Department of Agriculture’s (DOA) New ERA (Empowering Rural America) program.

The funding, which is earmarked for new energy initiatives, will provide low-cost affordable power to nearly 10 million people. According to the announcement from DOA, the primary project will build 250 megawatts of clean, renewable energy from a solar facility that will serve parts of Alabama, Georgia, Kentucky, Mississippi, North Carolina, Tennessee, and Virginia. The project will power nearly 113,000 homes each year, create more than 100 jobs, and reduce climate pollution by nearly 291,000 tons each year. The New ERA program’s interest savings and grant funds will reduce the project’s costs by more than $340 million.

“Procuring these resources is a big step in the right direction for advancing Seven States’ mission to leverage innovative technology to design, develop, and deploy energy solutions for the Tennessee Valley,” said Jeff Dykes, Chairman of the Board of Seven States and President and Chief Executive Officer of BrightRidge. “An award of this size and magnitude is significant for our region and we are thankful for the opportunity it presents.”

The new solar generation is expected to take up to three to five years to finalize the design, develop, and deploy all aspects of the project. Once active, it is anticipated that this project will facilitate a higher degree of reliability and resiliency to the existing energy grid and assist in meeting increased demand as the Tennessee Valley region continues to experience growth in population and economic development.

Seven States is an energy solutions cooperative that is owned and operated by the 153 local power companies across the seven-state region served by the Tennessee Valley Authority.

 



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