Golden Valley Electric Association Gets $100M Loan for Clean Energy

“This is an exciting project for Doyon as it directly benefits our shareholder families and homes. Over a quarter of Doyon’s shareholder base resides in the GVEA service area,” says Tanya Kaquatosh, Doyon’s senior vice president of administration. “Doyon’s mission to promote the economic and social well-being of our shareholders and future shareholders, and to strengthen our Native way of life, directly aligns with the value this project will bring to its ratepayers by creating jobs and training opportunities, reducing the cost of electricity, and improving long-term infrastructure for Interior Alaska.”

Community Collaboration

GVEA’s Community Benefit Plan (CBP) is a core component of the successful loan award. The CBP seeks to extend benefits to the communities GVEA serves beyond the scope of the awarded project, guided by PACE program goals to fortify the Interior workforce, promote energy efficiency and carbon reduction, integrate clean energy into traditional agriculture, and increase diversity, equity, inclusion, and accessibility through a transformative clean energy economy.

“This funding will allow GVEA to significantly advance initiatives under our Strategic Generation Plan, benefiting our members and the broader community. We are committed to creating a sustainable energy future for Interior Alaska,” says GVEA’s new CEO Travis Million. “Our collaboration with Doyon underscores the importance of community partnerships in achieving these goals. We look forward to continued teamwork with additional community stakeholders as things advance.”

GVEA will work with Rural Utilities Service, the entity administering the PACE program, to negotiate the award agreement in the third quarter of 2024 and to finalize project milestones, construction, and purchase agreements associated with these projects to begin the construction process.