Renewable Energy Holdings increases loan amount to £4.25 million, extends maturity date

By Lisa Kerner

Charlotte, N.C., Dec. 15 – Renewable Energy Holdings plc amended its loan and loan facility with Utilico Investments Ltd. on Friday.

As a result, the company’s 2009 loan maturity is extended to July 31, 2015. All other terms remain the same, according to a news release.

The loan facility is increased to £4.25 million from £3.25 million, and the annual success fee payable to Utilico is increased by £0.5 million.

Renewable Energy’s directors expect further discussions with Utilico regarding the maturity dates for the 2009 loan and the loan facility in July, the release stated.

Based in the Isle of Man, Renewable Energy Holdings owns a 30 MW permitted wind project in Poland and an 81 MW wind project in Wales.

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