Dato for ledelsens godkendelse af årsrapporten:2024-03-29
Ledelsespåtegning:Statement by the general partner
Beskrivelse af usikkerhed ved indregning eller måling:Uncertainty about the measurement of investmentsPortfolio companies are small or medium-sized, unlisted companies which develop or operate projects within renewable energy, energy efficiency, and carbon credit-generating assets in countries in Sub-Saharan Africa. The investments are measured at fair value. As there is no active market for such or similar assets, the fair value of the investments, including receivables from the portfolio companies, is determined using valuation methods and assumptions made by management. Accordingly, the measurement of the investments, including receivables from the portfolio companies, is by nature subject to uncertainty. The investments are subject to individual risks, including but not limited to local operational risks, environmental risks, political risks, social risks as well as compliance risks and other related risks for development projects within the renewable energy sector in countries in Sub-Saharan Africa. In determining the fair value of the investments, management considers the impact from these risks. The risks may potentially materialize negatively compared to the investment managers expectations, adversely impacting the fair value. Sustainability and DisclosureFrontier Energy is dedicated to developing and implementing projects that are environmentally and socially sustainable. When developing and building a project, Frontier Energy strives to benefit the neighboring communities and to adhere to global best practice, including IFC performance standards. As part of this work, Frontier Energy has a comprehensive ESG risks assessment process including conducting full Environmental & Social Impact Assessments for all projects and further emphasizes community engagement from early phases of project development. The 2023 annual report includes sustainability disclosures in accordance with the Sustainable Finance Disclosures Regulation (SFDR). The new requirements are largely based on the latest Regulatory Technical Standards ("RTS") to the SFDR Regulation, which indicate which sustainability related information to be made available to investors through the annual report and how this information is to be presented.
Statement by Management on the annual report
Identifikation af den godkendte årsrapport:The general partner has today discussed and approved the annual report of Frontier Energy II Beta K/S for the financial year 1 January to 31 December 2023.
Management's review
Beskrivelse af virksomhedens hovedaktivitet:Principal activitiesFrontier Energy II Beta K/S is a private equity limited partnership. The objective of Frontier Energy II Beta K/S is to achieve the highest possible financial return on the commitments of the partners by making, developing and realising investments in renewable energy and energy efficiency assets in countries in Sub-Saharan Africa. Frontier Energy II Beta K/S had capital commitments totalling USD 24,208 thousand. An Investment Management Agreement has been entered into with Frontier Investment Management ApS, under which Frontier Investment Management ApS as investment manager is responsible for the administration of and for providing investment advisory services to Frontier Energy II Beta K/S. The limited partnership has therefore no employees. Development in financial positionDuring 2023, Frontier Energy II Beta K/S invested an additional USD 2,183 thousand (2022: USD 3,532 thousand) in portfolio companies and related projects. In 2023, no new projects started commercial operation. Profit for the yearIn 2023, value adjustment of investments in portfolio companies amounted to USD 1,610 thousand (2022: USD -111 thousand). In 2023, Frontier Energy II Beta K/S realised a profit of USD 1,159 thousand (2022: loss of USD 589 thousand). Cost of USD 366 thousand relates to management fee (including VAT) (2022: USD 414 thousand) and USD 8 thousand relates to general partner fee (2022: USD 8 thousand). Balance sheet and capital structureAt 31 December 2023, the limited partnership had called a total net amount of USD 21,130 thousand(31 December 2022: USD 18,403) of the total capital commitment of USD 24,208 thousand, corresponding to 87% (31 December 2022: 76%). At year end 2023, total equity (net asset value) amounted to USD 21,421 thousand (31 December 2022: USD 18,584 thousand).
LoginOpret gratis brugere-conomic integration