Frontier Investment Management has achieved first closing of Frontier Energy II, an investment fund focused on developing, constructing and operating renewable energy projects in Sub-Saharan Africa.

Frontier Energy II is a successor fund to DI Frontier Market Energy & Carbon Fund (60m EUR fund established in 2011) with similar focus and strategy, which has invested in a broad portfolio of renewable energy projects that are now under development, construction, and operation in East Africa. Frontier Energy II will build on - and benefit from - the experience, portfolio and market position established during the last 6 years by the fund manager, Frontier Investment Management.

Frontier Investment Management and the investment funds under management are incorporated in Denmark with main offices in Copenhagen and Nairobi, and project offices in Nairobi, Kampala, Kigali, and Dar Es Salaam. Frontier Investment Management is characterized by an integrated hands-on approach to project development, financing, construction and operation.

The first fund is fully committed to 6 investments totaling 139 MW within hydro, solar and geothermal in East Africa. The new fund starts with a portfolio of 20 projects in East Africa under development, totaling 448 MW within hydro, solar, geothermal and wind.

First close commitment is USD 116 million from a combination of private investors and the following development finance institutions: CDC Group, GEEREF (EIB Group), FMO, Proparco, Swedfund, and the Development Bank of Austria (OeEB).

Frontier Energy II is open for 2nd close investors until early 2018 with a target size of 200m USD.

For further information concerning Frontier Investment Management and Frontier Energy II, please refer to www.frontier.dk or contact Anders Hauch, +254790554756, ahh@frontier.dk.