USDA Issued $3.3 Billion Loan for Georgia Power Plant
The record-setting federal loan supports the construction of a new electric generating facility in Monroe County.
Updated on Oct. 14, 2026 in Utilities
Live Poll
Do you trust that large government loans to energy providers keep electricity bills affordable?
The USDA has provided a $3.3 billion loan to the Oglethorpe Power Corporation for the development of the Smarr Combined-Cycle electric generating facility. This investment stands as the largest loan ever granted by the USDA Rural Utilities Service.
Why it matters
The financing aims to bolster Georgia's energy infrastructure to meet rising electricity demand driven by technological growth. By providing lower-cost capital, the initiative seeks to help maintain affordable utility rates for millions of state residents.
The $3.3 billion loan supports the Oglethorpe Power Corporation, an entity owned by 38 electric distribution cooperatives. This project will serve a customer base of nearly 5 million people throughout Georgia.
The players
Oglethorpe Power Corporation
An electric power generation and transmission cooperative owned by 38 member electric distribution cooperatives.
USDA Rural Utilities Service
A federal agency that provides infrastructure funding to rural communities to improve quality of life and economic development.
The details
The Smarr Combined-Cycle facility will be built in Monroe County to expand power generation capabilities. The project is expected to create new jobs within the rural American energy sector while securing a long-term electricity supply for the region.
Timeline
October 14, 2026: The USDA officially announced the $3.3 billion loan to Oglethorpe Power Corporation.
Market Landscape
This substantial federal investment represents a major commitment to utility infrastructure in an era of rapid energy demand growth. It solidifies the role of cooperative-owned power generators in competing to provide reliable and affordable energy at scale.
The loan is intended to help keep electricity costs stable for residents across Georgia as the state faces higher energy demands. Customers of the 38 cooperatives served by Oglethorpe Power may see long-term benefits in the reliability and affordability of their power supply.
The takeaway
This funding represents a significant expansion of regional energy capacity funded by federal investment. Consumers should monitor how this infrastructure development influences long-term utility pricing in their local districts.
Further reading
For additional context on local power projects, visit Georgia Utilities.
More information
Track federal funding allocations through the Rural Data Gateway investment tool.
Live Poll
Do you trust that large government loans to energy providers keep electricity bills affordable?
