National Bank of Fujairah ties up with CleanMax for rooftop solar projects in UAE

“The facility will cover 48 different operational rooftop solar assets, located in industrial facilities, malls, schools, and universities,” the company said in a press release.

This new partnership between NBF and CleanMax therefore represents a significant step towards meeting the goals of UAE’s energy strategy, which aims to have 50% clean energy in the energy mix by 2050, it added.

“We are delighted to announce our partnership with CleanMax, in line with our broader sustainability goals, including our continued commitment to expanding our portfolio in clean energy. Facilities in this industry require long–term, tailor-made solutions, and we are proud to have developed a structure that works for both CleanMax and us,“ Vince Cook, CEO of NBF, said.

“With their vast experience and established portfolio in decentralised renewables, we are confident that this project will provide a new benchmark in the market and contribute to the UAE’s COP28 ambitions and clean energy strategy,” he added.

“This facility will further accelerate the growth of our rooftop solar portfolio in the UAE, and we want to thank the NBF team for their efforts in making this possible. I think it highlights their ability to lead the way in financing clean energy in the region. Ours is a very capital-intensive business, and participation by local banks is really quite critical to the long-term success of the industry,” Kuldeep Jain, CleanMax Founder and Managing Director, said.