HSBC + Cleanmax to develop solar projects on UAE soil: HSBC has extended a long-term AED 99 mn credit facility to CleanMax — India-based Brookfield-backed renewable energy provider — to develop 92 onsite solar projects across the country, Cleanmax said in a press release (pdf).

The details: The projects will be implemented in industrial facilities, malls, schools, and universities. The partnership’s financing arrangement includes an uncommitted AED 37 mn (USD 10 mn) allocation for potential future renewable energy projects.

HSBC’s affinity for Indian-led green projects isn’t new: ADIA-backed Indian real estate asset manager Lake Shore secured a USD 143 mn green loan from HSBC to refinance lenders of its Viviana mall acquisition last October. The loan was obtained through Lake Shore’s subsidiary and the mall owner Salsette Developers.

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