Tata Power Company (TPCL) is planning to raise up to Rs 2,000 crore through the bond route for financing its business operations.
The private power generation company has tied up Rs 450 crore of sustainable trade finance from Japanese banking institution Mitsubishi UFJ Financial Group (MUFG) for renewable energy projects. This will allow the company improved access to green finance to further expand its clean energy portfolio and move closer towards meeting India’s net-zero target.
The financing facility from MUFG is extended for solar projects under TP Kirnali (TPKL), which is a 100 per cent-owned subsidiary of Tata Power Renewable Energy (TPREL).