CleanMax announces financing for onsite solar projects in UAE

Mumbai, 22nd January, 2025: CleanMax, one of Asia's leading renewable energy providers for the Commercial and Industrial (C&I) sector and a Brookfield-backed company, today announced that it will obtain AED 99 Million (USD 27 Million) long term credit facility from HSBC to develop and finance its onsite solar portfolio in the UAE. The facility will cover 92 onsite solar assets, located on industrial facilities, malls, schools and universities. The financing arrangement also provides an uncommitted accordion of AED 37 Million (USD 10 Million) for development of future projects, in alignment with UAE’s Net Zero 2050 Strategy.