Member-owner cooperatives Archives - Page 6 of 12 - Great River Energy
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Member-owner cooperatives

Unique loan program supports advanced manufacturing

Community, Cooperatives, Economic development, Member-owner cooperatives /

The Energy Efficient Equipment (E3) Loan Program administered by Great River Energy is seeing an uptick in activity as businesses work to overcome challenges related to workforce shortages, inflationary interest rates, and increased shipping and material costs. One recent example is Midstate Plastics Corporation, a thermoforming and injection molded plastics manufacturer based in the northern …

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Denzer tapped to lead Minnesota Valley

Member-owner cooperatives /

The Minnesota Valley Electric Cooperative (MVEC) board of directors has named Marvin Denzer as interim chief executive officer of the cooperative. Denzer replaces Ryan Hentges, who accepted a position with Dakota Electric Association after six years leading MVEC. A graduate of North Dakota State University, Denzer began his MVEC career in 1991 as an engineer. …

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Stearns Electric supports manufacturing facility expansion

Cooperatives, Economic development, Member-owner cooperatives /

The U.S. Department of Agriculture (USDA) has awarded a $1.5 million loan to Stearns Electric Association, one of Great River Energy’s 27 member-owner cooperatives, to support the expansion of the Berkon Outdoors manufacturing facility. Berkon Industries, LLC was established in 2001 as an all-cedar dock manufacturing company owned and operated by entrepreneur Eric Berscheid. Berkon …

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Co-ops persevere through historic holiday storm

Cooperatives, Member-owner cooperatives, Power generation resources /

The electric system proved resilient as Winter Storm Elliott brought blizzard conditions and subzero temperatures to the Midwest in the days leading up to Christmas. However, at critical moments Great River Energy and its member-owner cooperatives stepped up to keep the system reliable. Great River Energy and its member-owner cooperatives have designed their systems to …

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Year ends on financial high note

Company news, Cooperatives, Member-owner cooperatives /

Strong financial results allowed Great River Energy to return a bill credit to its member-owners Higher than expected annual revenues might inspire most companies to buy back shares, pay higher dividends or build their balance sheets. But not-for-profit cooperatives like Great River Energy provide electric service at cost and any additional gains are returned to …

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Two co-ops announce new leadership

Cooperatives, Member-owner cooperatives /

Two of Great River Energy’s member-owner cooperatives recently announced who will take the helm as their new chief executive officers. Ryan Hentges will be the next president and CEO at Dakota Electric Association, based in Farmington, Minnesota. Matt O’Shea has already begun serving as CEO of Stearns Electric Association, based in Melrose, Minnesota. Hentges comes …

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Cooperatives return millions to members

Cooperatives, Member-owner cooperatives /

Electric cooperative members across Great River Energy and its member-owners’ service territories collectively received millions of dollars as part of a benefit of the cooperative business model. As not-for-profit organizations, cooperatives are owned by their members and operate at cost. Any excess revenue that is left over once all bills associated with doing business have …

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E-bike boom: Co-ops dip into e-bike sales following tech’s boost in popularity

Beneficial electrification, Cooperatives, Electric vehicles, Member-owner cooperatives /

When considering the switch to electric transportation, it might be best to start thinking small. While electric vehicles (EVs) are receiving much of the attention, it’s actually the smallest forms of e-transportation, such as e-bikes, that are experiencing the largest surge of popularity. And what’s more, this popularity doesn’t seem to be limited to metro …

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LREC celebrates 85 years with a statue dedication

Community, Cooperatives, Member-owner cooperatives /

This year marks the 85th anniversary of local farmers and rural residents banding together to form Lake Region Electric Cooperative (LREC), one of Great River Energy’s 28 member-owner cooperatives. This group of people brought electricity to the people and farms located in surrounding rural areas which improved — and forever changed — the quality of …

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Co-ops combat high temperatures, market prices during state’s ‘longest summer’

Cooperatives, Member-owner cooperatives /

August came in hot — literally — for Minnesotans, and data collected from Great River Energy’s demand response programs this summer reflect the high temperatures and market prices. The month’s first week brought temperatures in the mid-90s with the National Weather Service Twin Cities recording the average daily high at 81.5 degrees Fahrenheit. In the …

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