Neovantage Innovation Parks, the largest private life sciences real estate operator in South Asia, has secured its first green loan, a significant milestone in its sustainability journey. The loan, valued at INR 300 crores (~C$ 50 million), was provided by HSBC India, marking HSBC’s first green loan facility in the life sciences real estate sector in India.

The loan reinforces Neovantage Innovation Parks’ commitment to eco-friendly operations and sustainable development. A joint venture between Ivanhoé Cambridge, the real estate arm of CDPQ, and Lighthouse Canton, Neovantage Innovation Parks stands out as an industry leader with a portfolio consisting of eight world-class, Grade ‘A’ facilities located in Genome Valley, Hyderabad. This portfolio is home to leading pharmaceutical and life sciences research and development (R&D) companies.

Neovantage Innovation Parks’ operating buildings boast prestigious Gold or higher LEED certifications for Operations and Maintenance (O+M), awarded by the US Green Building Council. These certifications underline the company’s commitment to energy conservation, water efficiency, and maintaining optimal indoor air quality—key elements of its long-standing focus on sustainability.

“This development aligns with our role as a sustainable and innovative investor,” stated George Agethen, Head of Real Estate, Asia-Pacific, at CDPQ. “Partnering with Lighthouse Canton in the life sciences sector has enabled us to diversify our portfolio while supporting high-growth sectors.”

The green loan will refinance existing debt and support the expansion of Neovantage Innovation Parks’ sustainable real estate portfolio. The portfolio has also received LEED Platinum and Gold Certifications for Building Design and Construction – Core and Shell Development, showcasing excellence in both design and operational efficiency. The ongoing construction of Building 9900 and Building 4500 in Genome Valley, both of which have earned LEED Gold Precertification, further emphasizes the company’s commitment to sustainability. Building 9900 has already been fully leased to a leading Indian contract research organization, while Building 4500 is expected to be completed by October 2024.

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In recognition of its sustainable business practices, Neovantage Innovation Parks has also secured a rate reduction on the green loan, reflecting the reduced risk and enhanced creditworthiness linked to its eco-friendly initiatives.

“We’re excited to collaborate with HSBC on this landmark green loan,” said Sanket Sinha, Global Head of Asset Management at Lighthouse Canton. “This funding supports our financial strategy and aligns with our vision to create sustainable and thriving business ecosystems.”

HSBC India’s Head of Global Banking, Amitabh Malhotra, expressed enthusiasm for the collaboration, highlighting the bank’s commitment to sustainability. “We are proud to support Neovantage Innovation Parks in their sustainability goals through this green loan and look forward to continuing our partnership.”

This green loan highlights a growing trend where financial strategies align with global environmental goals, showcasing Neovantage Innovation Parks’ leading role in advancing sustainability within India’s real estate sector.

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