HSBC grants Rs 3 billlion green loan to Neovantage Innovation Parks

20 Sep 2024 CW Team

Neovantage is a joint venture between Ivanhoe Cambridge, a real estate arm of CDPQ, and global investment firm Lighthouse Canton. The park hosts leading pharmaceutical and life sciences R&D companies.

In its statement, the company highlighted that this is its inaugural green loan, aligned with its goal of maintaining an environmentally responsible and efficient real estate portfolio. Neovantage's portfolio includes eight world-class Grade 'A' facilities, home to multinational and large Indian companies.

George Agethen, Asia-Pacific Head-Real Estate, CDPQ and Sanket Sinha, Global Head-Asset Management, Lighthouse Canton emphasised the company’s commitment to sustainability and green innovation. This funding, they said, supports Neovantage's long-term vision of fostering sustainable business ecosystems.

Amitabh Malhotra, Head- Global Banking, HSBC India, expressed pleasure in collaborating with Neovantage, marking the bank’s first green loan in India’s life sciences real estate sector. HSBC has previously provided green loans to several key real estate players, reinforcing the bank's support for sustainability-driven growth in India.

(ET)

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