Japan’s premier bank MUFG Bank has extended an INR 450 crore ($55.1 million) sustainable trade finance facility to fund Tata Power’s solar projects in Gujarat and Maharashtra.
Tata Power will use the credit facility to fund its 120 MW solar project in Mesanka, Gujarat, and 100 MW project in Parthur, Maharashtra, executed through its clean energy arm TP Kirnali.
MUFG is a global leader in funding renewable generation projects. It has been ranked the top lead arranger in Bloomberg’s league tables for clean energy financing for six of the past nine years.
“[The credit facility to Tata Power] is the first sustainable trade finance facility offered by MUFG in India,” stated MUFG.
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