MUFG Bank Limited has extended a Rs 4.5 billion sustainable trade finance facility to Tata Power. It is the first sustainable trade finance facility offered by MUFG in India. This credit facility was extended by MUFG to fund the procurement of two solar power projects under TP Kirnali Limited (TPKL). This includes a 100 MW project in Parthur, Maharashtra, and a 120 MW project in Mesanka, Gujarat, under documentary trade finance. The collaboration will open up further opportunities to raise green financing, as Tata Power continues to increase its clean energy portfolio and contribute towards India’s net zero targets.
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