Cooperative Power Launches Telecom Company
Cooperative Power`s (CP) board of directors recently approved the creation of a new business venture that will deploy a fully digital, SONET-based fiber-optic telecommunications network to serve the needs of communities in the southern half of greater Minnesota. CP is an association of 17 rural Minnesota electric cooperatives serving customers in west central and southern Minnesota. The new business, called FiberOne, will provide high-speed, reliable telecommunications for business, governments and consumers in areas that have previously been lagging in the deployment of advanced telecommunications technology.
Jim Herbert, CP`s senior assistant general manager and FiberOne`s program leader, said the creation of FiberOne will allow CP member cooperatives and their communities to better position themselves for competition in emerging economies. “CP`s telecom venture will support the strategic imperatives of CP and its member systems, improve economic development in our region`s communities, meet CP`s internal telecommunications needs, enhance CP`s revenue growth and prepare CP and its member systems for increased competition in a deregulated electric utility industry,” Herbert said.
FiberOne is now in the process of finalizing technology and investment partnerships and is scheduled to implement its digital, switched-fiber network during the third quarter 1997.