Japan’s MUFG Bank has announced that it has executed a Rs 450 crore sustainable trade finance facility for Tata Power. MUFG extended this financing to fund the procurement of TP Kirnali Ltd or TPKL’s two solar power projects – a 100 MW project in Partur, Maharashtra and a 120 MW project in Mesanka, Gujarat- under documentary trade finance. Incorporated in 2020, TPKL is a 100 per cent owned subsidiary of Tata Power Renewable Energy Ltd (TPREL), a clean energy platform. According to reports, Sanjeev Churiwala, CFO, Tata Power has stated that it is committed to transitioning its business to make sustainable power available through clean energy sources. The association will open up opportunities to explore raising more green finance as they expand their clean energy portfolio, a move to contribute towards India’s net zero targets.