HSBC has signed a deal with the Carbon Trust that will see the bank's Environmental Infrastructure Fund make a substantial investment in renewables projects on public sector sites such as hospitals, universities and local council land. Under the deal, the fund is paying £18 million for 49% of Partnerships for Renewables, a venture created by the Carbon Trust with the aim of developing 500 MW of renewable energy projects on public sector land across the UK over the next five years. In addition, HSBC Environmental Infrastructure Fund will provide development funding, and make a £30 million revolving construction capital facility available to fund some £100 million of equity required to build out renewable energy projects. The Carbon Trust will continue to own 51% of Partnerships for Renewables, which is negotiating with more than 100 public sector organisations to deliver onshore wind projects of between 2 MW and 15 MW in size. James Hall-Smith from HSBC Specialist Investments says the Partnerships for Renewables deal represents the first investment by the group's new Environmental Infrastructure Fund. "It demonstrates that it is possible to combine genuine commercial investment opportunity with sustainable or environmental infrastructure."