Yes, but....
This applies to the "little RAT". Most of the new A/C have been fitted with the newer, larger RAT. These will operate with the gear down, as long as you're doing at least 125 kts.
How do you know which RAT is on your A/C? If the RAT door is flush with the fuselage, you have the older, smaller RAT. If there's a bulge in the fuselage, you have the big RAT. (Of course, this is how you tell when you're walking up to the A/C. A look in the MSN-specific QRH and other documents will tell you what you've got.)
The scenario you mention exists when you're in the ELEC EMER CONFIG AND you can't retract the gear in a go-around (for an unrelated reason).
Fly safe,
PantLoad