Frontier Energy II Beta K/S (FMO-50480)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 22, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Frontier Investment Management
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 23.80 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported USD 20.00 MLN
Converted using 2017-12-25 exchange rate.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018


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Project Description

WHO IS OUR CLIENT

Frontier Investment Management is a Danish-based private equity fund investing in renewable energy assets in Sub-Saharan African markets, with a preference for Kenya, Uganda, Tanzania and Rwanda. The fund manager was supported by the Confederation of Danish Industry (DI) and have received a Seed Capital Assistance Facility (SCAF), funded by AfDB and UNEP, to develop investable projects.

FUNDING OBJECTIVE

Frontier seeks investment opportunities in the development, construction and operation of renewable energy, targeting the provision of equity for construction typically from USD 5 million to USD 25 million per project. All investments must be related to specific energy projects and assets. The Fund has a medium to long term perspective on its investments with a typical investment horizon of 5 to 10 years.

WHY WE FUND THIS PROJECT

The Funda€™s investment mandate is a good fit with FMOa€™s focus and strategy tackles the problem of a lack of investable renewable energy assets by becoming involved in a relatively early stage of development and devoting substantial time and resources to development stage assets. What is more, the team has built an extensive track record of developing renewable energy projects with their first fund, supported by a platform approach (cross-project teams organized by technology / country) with highly capable technical, commercial and ESG personnel both at Fund level and within the underlying platform teams.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

FMO
South Africa
+27 11 507 2500
joburg-office@fmo.nl

 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.