LONDON--Plutus PowerGen PLC (PPG.LN) said Tuesday it has got a 3 million pounds ($4 million) loan from Lombard North Central PLC, a subsidiary of Royal Bank of Scotland PLC (RBS.LN).

The loan is for more than five years, and is taken for one of its indirect investment companies, said the developer of power projects in the U.K. The money is meant to be for the nine 20 mega watts flexible generation sites, the company said.

Plutus PowerGen is in talks with Lombard to get more loans of up to GBP22 million on behalf of the other eight companies in which it has a 45% interest, it said.

Shares at 0705 GMT unchanged at 1.53 pence.

Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

(END) Dow Jones Newswires

October 04, 2016 03:21 ET (07:21 GMT)

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