LPEA to continue partnership to support broadband.
La Plata Electric Association, Inc (LPEA) announced the sale of FastTrack Communications, Inc. (FastTrack) to Clearnetworx, LLC (Clearnetworx) for an undisclosed amount as part of an on-going strategic partnership between the parties. LPEA has owned a partial share of FastTrack since 2002. As part of the agreement, LPEA will non-exclusively work with Clearnetworx on future broadband deployment within LPEA’s service area.
Clearnetworx is headquartered in Montrose, Colo. and has provided broadband service to communities and rural areas across the Western Slope since 2012. In 2023 Clearnetworx started full fiber-to-the-home buildouts in Durango, Bayfield, and Cortez. As part of their commitment to the region, Clearnetworx has applied for over $30M in State of Colorado grant projects this fall for rural southwest Colorado.
“FastTrack and Clearnetworx have had a long relationship and great collaboration,” said Clearnetworx’s President Doug Seacat. “Our groups share a focus on local support and how fiber internet can create impact within the communities we live in. We’re excited to continue those efforts through this partnership as we bring fiber internet services to communities and rural areas across southwest Colorado.”
LPEA’s Board of Directors have a strategic broadband goal that states LPEA will pursue a funding and partnership strategy that will enable broadband connections to its membership by 2030 without increasing electric rates to do so.
“The sale of FastTrack and the ongoing relationship between the two parties are an important step towards achieving LPEA’s strategic broadband goal,” said LPEA Board President Ted Compton. “We’re proud to have played a role in the development of the backbone fiber network in our area through our ownership of FastTrack and look forward to seeing new, affordable broadband opportunities for our membership.”
LPEA entered the industry when the demand for broadband across rural areas was needed. FastTrack offered broadband to essential services including schools, hospitals, and government buildings to support the general welfare of the public. The global pandemic of 2020 exposed the lack of access to affordable, widespread broadband within LPEA’s service territory and which presented the opportunity to create broadband partnerships to meet the membership’s needs.