Mitsubishi UFJ Financial Group, Inc.’s banking subsidiary, MUFG Bank, announced that they have closed a USD 163 Million, five-year syndicated financing for a 300MW solar plant developed by Azure Power India Private Limited (APIP) in the State of Rajasthan, India.
MUFG acted as original mandated lead arranger and sole green structuring advisor, hedging bank, facility agent and LC issing bank. With this deal MUFG marks 3rd geen certification in India with Azure Power.
This transaction marks another milestone for MUFG as it is the third renewables project financing whereby it acted as Green Structuring Advisor and secured certification for a cumulative renewables capacity of 2.6GW over the past six months.
“Having played leadership roles in a string of renewable project financings in India, we are even more convinced of the exciting prospects in the country’s renewables sector. We look forward to further harnessing our project financing and ESG expertise to support India’s sustainability aspirations,” said Colin Chen, MUFG’s Head of ESG Finance for Asia Pacific.