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CleanMax, a leading renewable energy provider for the Commercial and Industrial (C&I) sector in Asia and a Brookfield-backed company, has secured a long-term credit facility of AED 99 million (USD 27 million) from HSBC to develop and finance its onsite solar portfolio in the UAE. The facility will support 92 onsite solar projects across industrial facilities, malls, schools, and universities. Additionally, the financing arrangement includes an uncommitted accordion of AED 37 million (USD 10 million) to fund future projects in line with the UAE’s Net Zero 2050 Strategy. Developing sustainability initiatives requires substantial upfront investment and strategic financial planning. As global investments in renewable energy accelerate, partnerships like this demonstrate how financial institutions and green energy providers can collaborate to drive decarbonization and support international climate commitments. “This financing facility is a significant milestone for CleanMax and its growth strategy in the MiddleEast region. It enhances our ability to offer competitive energy tariffs to Commercial & Industrial (‘C&I’) clients and reflects our commitment to provide tailor made green energy solutions to help corporates in driving their sustainability goals. The transition to a net-zero global economy and achieving a lowcarbon future is a shared opportunity. It requires a coalition of renewable energy providers, financiers and industries working together toward a common goal willing to invest in change.” Said, Kuldeep Jain, Managing Director of CleanMax. Khalid Alkadi, Head of International Subsidiary Banking, HSBC Middle East, North Africa and Turkiye said, “The financing is a further step in our partnership to support CleanMax’s international growth journey. The development of the solar projects underscores the UAE’s position as a regional pioneer in the Net Zero transition and as a destination for international investment in green infrastructure.” |
