Renewable Energy Wins Co-operative Bank Loan for U.K. Wind Farm

July 31 (Bloomberg) -- Renewable Energy Generation Ltd., a Jersey-based clean power developer, won a 4.2 million-pound ($6.4 million) loan from the Co-Operative Bank Plc for a wind farm in northern England.

The 10-year project-finance loan with a 6.075 percent rate will fund the Orchard End plant in Lancashire, the company said today in a statement outlining completion of its financing.

REG plans to sell the 4-megawatt venture to New York-based asset manager BlackRock Inc. later this year, it said.

To contact the reporter on this story: Sally Bakewell in London at sbakewell1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net