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From the notice

The Rural Utilities Service (RUS or the Agency), a Rural Development (RD) agency of the United States Department of Agriculture (USDA), is soliciting Letters of Interest (LOI) for applications under the Affordable Rural Cooperative (ARC) Program. In addition, the Agency is announcing the eligibility requirements, application process and deadlines, and the criteria that will be used by RUS to assess ARC Applications. The ARC Program is making approximately $175 million in appropriated budget authority for the cost of loan and grant funds available under the Inflation Reduction Act (IRA) of 2022. In keeping with the statutory authority for the program, RUS will utilize the ARC funds to assist Eligible Entities to achieve future net reductions consistent with Section 22004 of the IRA through the deployment of advanced, efficient transmission infrastructure and nuclear power supply. Available funds will be allocated for each purpose while advancing the long-term resiliency, reliability, and affordability of rural electric systems. All Eligible Entities are responsible for any expenses incurred in developing their LOIs and ARC Applications.This funding notice advances the statutory purpose of achieving the greatest reductions as provided in Section 22004 of the IRA associated with rural electric systems by increasing the amount of emission-free nuclear power and increasing the efficiency of the transmission grid within such systems. These new sources of cooperative power supply an

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