Frontier Energy II

Equity : March 2018

With more than 750 MW of renewable energy in development, construction and operation, Frontier Energy is a leading investor in the African renewable energy market.

Amount

€ 8,151,000.00

Type of investment

Equity

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation
  • Fight against climate change and preservation of natural resources

Beneficiary locations

Sub-Saharan Africa: Kenya, Rwanda, Tanzania, Uganda

Investment field

Investment Companies & Funds

Activity

Infrastructure fund

Organisation

Frontier Energy II

Domicile

Denmark

Frontier Energy II is a private equity investment fund with a focus on developing, constructing and operating renewable energy assets across East Africa. The Fund is a successor fund of DI Frontier Market Energy & Carbon Fund (2011), with similar strategy managed by Frontier Investment Management (the Manager).

The Fund will invest in greenfield and early to late stage development of renewable energy projects assets. The fund manager uses its engineering, financial, renewable energy, ESG and contracting services to create alone (or together with other developers) bankable renewable energy assets.

Development impacts

  • Local economic growth

    The Fund will invest in ca. 12 renewable energy projects with an installed capacity of ca. 459 MW as from development stage and turn them into operational assets. The projects will allow for job creation, tax payments, fees to local governments and the operational assets will help to improve the target countries’ balance of payment by import substitution (fossil fuel) and increases their self-sufficiency.

  • Private sector consolidation/innovation

    As a pioneer in the sector, the fund manager engages itself in wider efforts to improve frameworks for Independent Power Producers (IPP) in East Africa and outside the region.

  • Fight against climate change and preservation of natural resources

    The expected carbon emission savings of Fund II is 1.3m ton CO2 emissions per year, based on an annual production of 2,700 GWh (equivalent to the consumption of 2.2 m households).

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  Egypt, Kenya, Nigeria, South Africa

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European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  15,000,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

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The Currency Exchange Fund n.v.

Financial Institutions

The Currency Exchange Fund n.v.

  7,091,000.00

  Bangladesh, Cambodia, India, Indonesia, Myanmar, Nepal, Pakistan, Philippines, Sri Lanka, Vietnam, Bolivia, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Algeria, Egypt, Iraq, Jordan, Lebanon, Morocco, Syria, Tunisia, Palestinian Territories, Benin, Burkina Faso, Burundi, Cameroon, Côte d'Ivoire, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Kenya, Madagascar, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia

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  Equity

African Minerals Limited

Enterprises

African Minerals Limited

  740,784.67

  Uganda

  22/12/2009

  Debt

Africinvest Fund II LLC.

Investment Companies & Funds

Africinvest Fund II LLC.

  6,000,000.00

  Tunisia, Burkina Faso, Cameroon, Côte d'Ivoire, Ghana, Kenya, Nigeria, Senegal

  28/08/2008

  Equity

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  5,000,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  08/12/2010

  Debt

Bank of Africa Group S.A.

Financial Institutions

Bank of Africa Group S.A.

  1,954,160.00

  Benin, Burkina Faso, Côte d'Ivoire, Democratic Republic of Congo, Ghana, Kenya, Madagascar, Mali, Niger, Rwanda, Senegal, Tanzania, Uganda

  30/03/2011

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Agri-Vie Fund II

Investment Companies & Funds

Agri-Vie Fund II

  350,000.00

  Kenya, South Africa, Tanzania, Uganda, Zambia

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  Subsidy

Phatisa Food Fund 2

Investment Companies & Funds

Phatisa Food Fund 2

  5,767,300.00

  Ghana, Kenya, Malawi, South Africa, Tanzania, Uganda, Zambia

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  Equity

Electrical Controls and Switchgear Ltd.

Enterprises

Electrical Controls and Switchgear Ltd.

  725,111.00

  Uganda

  27/01/2015

  Debt

European Financing Partners S.A.

Investment Companies & Funds

European Financing Partners S.A.

  6,000.00

  India, Kenya, Nigeria, Senegal, Tanzania, Zambia

  21/11/2003

  Equity

Grofin East Africa Fund LLC.

Investment Companies & Funds

Grofin East Africa Fund LLC.

  2,211,000.00

  Kenya, Rwanda, Tanzania, Uganda

  25/01/2006

  Equity

Rubaya-Nyabihu Tea Company Ltd.

Enterprises

Rubaya-Nyabihu Tea Company Ltd.

  3,674,000.00

  Rwanda

  01/03/2017

  Debt

AgRIF Coöperatief U.A.

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AgRIF Coöperatief U.A.

  105,000.00

  Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

  11/09/2018

  Subsidy

AgRIF Coöperatief U.A.

Investment Companies & Funds

AgRIF Coöperatief U.A.

  5,438,332.50

  Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

  18/06/2015

  Equity

Zoscales Fund I

Investment Companies & Funds

Zoscales Fund I

  350,000.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  23/11/2020

  Subsidy

KCB Kenya

Financial Institutions

KCB Kenya

  19,583,388.00

  Kenya

  22/12/2020

  Debt

Ascent Rift Valley Fund II

Investment Companies & Funds

Ascent Rift Valley Fund II

  2,000,000.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  17/12/2020

  Equity

Ascent Rift Valley Fund II

Investment Companies & Funds

Ascent Rift Valley Fund II

  5,743,220.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  23/12/2020

  Equity

African Rivers Fund III

Investment Companies & Funds

African Rivers Fund III

  1,500,000.00

  Democratic Republic of Congo, Uganda

  01/09/2020

  Equity

Alterfin

Financial Institutions

Alterfin

  3,000,000.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  15/07/2020

  Debt

African Rivers Fund III

Investment Companies & Funds

African Rivers Fund III

  6,113,520.00

  Democratic Republic of Congo, Uganda

  01/09/2020

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Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  350,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

  07/04/2020

  Subsidy

Alios Finance S.A.

Financial Institutions

Alios Finance S.A.

  2,877,422.00

  Kenya, Tanzania, Zambia

  15/12/2015

  Debt

EFC Uganda

Financial Institutions

EFC Uganda

  16,144.00

  Uganda

  18/12/2019

  Subsidy

Zoscales Fund I

Investment Companies & Funds

Zoscales Fund I

  21,757.30

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

  12/11/2019

  Subsidy

AfricInvest Financial Inclusion Vehicle

Investment Companies & Funds

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  10,000,000.00

  Morocco, Côte d'Ivoire, Democratic Republic of Congo, Ghana, Kenya, Nigeria, Rwanda, Tanzania, Zambia

  14/12/2017

  Equity

Alterfin

Investment Companies & Funds

Alterfin

  250,000.00

  Cambodia, Nicaragua, Côte d'Ivoire, Kenya

  13/12/2002

  Equity

Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  3,000,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

  24/10/2019

  Equity

ARPE Ltd.

Infrastructure

ARPE Ltd.

  8,236,550.00

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  07/12/2016

  Debt

EFC Uganda

Financial Institutions

EFC Uganda

  285,933.00

  Uganda

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  Equity

EFC Uganda

Financial Institutions

EFC Uganda

  1,000,000.00

  Uganda

  23/03/2018

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African Rivers Fund

Investment Companies & Funds

African Rivers Fund

  4,118,275.00

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  Equity

Kivuwatt Ltd.

Infrastructure

Kivuwatt Ltd.

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Rwimi EP Company

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Infrastructure

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Beyond the Grid Solar Fund

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Zoscales Fund I

Investment Companies & Funds

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7 Hills

Enterprises

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AccessBank Tanzania Ltd.

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AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  145,000.00

  Tanzania

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AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  1,500,000.00

  Tanzania

  15/09/2009

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AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  274,000.00

  Tanzania

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  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  225,000.00

  Tanzania

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  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  425,000.00

  Tanzania

  30/05/2013

  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  100,000.00

  Tanzania

  01/12/2007

  Subsidy

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  13,700.00

  Tanzania

  26/03/2012

  Subsidy