Good Energy Wins Lloyds TSB Loan for Solar, Wind Plans in U.K.

Good Energy Group Plc, a British renewable-power supplier, won a 7.5 million-pound ($12 million) loan from Lloyds TSB Bank Plc to advance its wind and solar project plans.

The three-year revolving loan combined with a current overdraft facility gives the Wiltshire-based company 10.5 million pounds in total from Lloyds, Good Energy said today in a statement.

The company will use the loan to advance its solar and wind projects with longer development times requiring funding flexibility, Garry Peagam, finance director, said in the statement.