Tata Power secures Rs 450 crore sustainable trade finance from MUFG, Japan

23 Dec 2022 , 02:54 AM

MUFG Bank of Japan has completed a Rs450 crore sustainable trade finance facility for Tata Power, the company announced today.

This credit facility was extended for TP Kirnali Limited’s solar projects (TPKL). TPKL, which was founded in 2020, is a wholly owned subsidiary of Tata Power Renewable Energy Limited (TPREL), a clean energy platform.

Tata Power stated in its statement that this is the first sustainable trade finance facility offered by MUFG in India. TPKL will utilise the funds raised to generate renewable energy capacity. It further added that the collaboration will open up additional opportunities for green financing as Tata Power expands its clean energy portfolio and contributes to India’s net zero targets.

At around 2.15 PM, Tata Power was trading 4.93% lower at Rs 198.45, against previous close of Rs 208.90 on NSE. The counter hit intraday high and low of Rs207.90 and Rs 197.65 respectively.

For feedback and suggestions, write to us at [e-mail]