Annual Report 2016
Annual Report 2016
- Suomeksi
- In English
- Year 2016
- Corporate governance
- Responsibility
- Investments
- Investments
- List of investments
- Map of investments
- Investments in profitable and responsible private projects
- A channel for investing in the most difficult markets
- Banks and financial institutions
- Highlights of Finnfund's investments
- Highlights of Finnfund's investments
- Miro Forestry leads the way for Sustainable Plantation Forestry in West Africa
- Fuzu matches workers with jobs
- Financing to small and medium-sized companies in Cambodia
- EthioChicken improves food security in Ethiopia
- Solar brings electric light to Mary's family
- Textile importer focuses on quality
- Finnish company exports solar energy know-how to Egypt
- Financials
- Financials
- Board of Directors' report
- Profit and loss account
- Balance sheet
- Cash flow statement
- Accounting policy
- Notes to the profit and loss account
- Notes to the balance sheet
- Other supplementary information
- Signatures of Board of Directors' report and financial statements
- Auditor's report
- Statement of the Supervisory Board
Investments
- List of investments
- Map of investments
- Investments in profitable and responsible private projects
- A channel for investing in the most difficult markets
- Banks and financial institutions
- Highlights of Finnfund's investments
- Miro Forestry leads the way for Sustainable Plantation Forestry in West Africa
- Fuzu matches workers with jobs
- Financing to small and medium-sized companies in Cambodia
- EthioChicken improves food security in Ethiopia
- Solar brings electric light to Mary's family
- Textile importer focuses on quality
- Finnish company exports solar energy know-how to Egypt
List of investments
as of 31 December 2016
| Investment | Operation | Finnish company* | Finnfund's financing |
| ASIA | |||
| Cambodia-Laos Development Fund | Private equity fund | ||
| Mekong Brahmaputra Clean Development Fund L.P. | Private equity fund | ||
| Tropical Asia Forest Fund | Private equity fund | ||
| BANGLADESH | |||
| Everest Power Generation Co. Ltd. | Power Plant | Wärtsilä Oyj | |
| CAMBODIA | |||
| First Finance Plc. | Financial institution | ||
| Prasac Microfinance Institution Ltd | Microfinance | USD 15 000 000 | |
| Sathapana Limited | Microfinance | ||
| CHINA | |||
| Avain China Holding Oy | Information technology | Avain Technologies Oy | |
| China Finland Maanshan Steel Co.Ltd. | Metal products | Metalliset Oy | |
| GreenStream Energy Efficiency Investments Ltd. | Energy efficiency | Several Finnish technology providers | |
| LVDU Lapland Food Co., Ltd. | Dairy products | Lapland Food Oy | |
| Norrhydro Hydraulic System (Changzhou) Co. Ltd. | Manufacturing of hydraulic sylinders | Norrhydro Group Oy | |
| Peikko Construction Accessories (Zhangjiagang) Co., Ltd | Metal products | Peikko Group Oy | |
| XTC Company Oy | Electrical equipment | Mekitec Oy | |
| INDIA | |||
| Ashley Alteams India Pvt. Ltd. | Aluminium components | Alteams Group | |
| Bharti Airtel Limited | Telecommunications | Nokia Networks Oy | |
| Gemco Kati Exploration Pvt. Ltd. | Mining support service activities | Oy Kati Ab Kalajoki | |
| Ojala (India) Engineering Pvt. Ltd. | Metal products | Ojala-Yhtymä Oy | |
| Stera Engineering (India) Pvt. Ltd. | Contract manufacturer of electromechanics | Stera Technologies Oy | |
| VME Precast Pvt. Ltd. | Concrete elements | Valkeakosken Betoni Oy | |
| INDONESIA | |||
| SaraRasa Biomass | Biofuels | Dovre Group | |
| LAOS | |||
| Burapha Agro-Forestry Co., Ltd | Forestry and wood products | ||
| Nam Sim Power Company Limited | Hydro power | ||
| MONGOLIA | |||
| Radisson BLU Hotel Ulaanbaatar | Hotel | ||
| XacBank | Bank | ||
| NEPAL | |||
| Dolma Impact Fund I | Private equity fund | ||
| PHILIPPINES | |||
| mBank Philippines | Microfinance | ||
| SRI LANKA | |||
| Commercial Leasing and Finance PLC (CLC) | Microfinance | USD 11 000 000 | |
| THAILAND | |||
| A.T. Biopower Co., Ltd. | Biopower plant | Private Energy Market Fund Ky, Pöyry Oyj | |
| Siam Investment Fund II L.P. | Private equity fund | ||
| Thai Biogas Energy Company Ltd. | Biogas | Private Energy Market Fund Ky | |
| VIETNAM | |||
| Mekong Enterprise Fund, Ltd. | Private equity fund | ||
| SEAF Blue Waters Growth Fund Limited | Private equity fund | ||
| AFRICA | |||
| AfriCap Microfinance Investment Ltd. | Microfinance | ||
| AfricInvest Fund Ltd. | Private equity fund | ||
| Afrinord Hotel Investments A/S | Hotels | ||
| Atlantic Coast Regional Fund | Private equity fund | ||
| Aureos Africa Fund LLC | Private equity fund | ||
| Catalyst Fund | Private equity fund | ||
| Creditinfo East Africa | Credit information | EUR 2 400 000 | |
| European Financing Partners | Development financing | ||
| Fanisi Venture Capital Fund | Private equity fund | ||
| Fidelity Equity Fund II Limited | Private equity fund | ||
| GEF Africa Sustainable Forestry Fund, L.P. | Forestry Fund | ||
| Green Resources AS | Forestry and wood products | ||
| GroFin East Africa Fund LLC | Private equity fund | ||
| Miro Forestry Company | Forestry and wood products | ||
| Mobisol | Solar energy systems | ||
| Norsad Finance Limited | Development financing | ||
| SFC Finance Limited | Bank | ||
| Silverlands Fund | Private equity fund | ||
| CAPE VERDE | |||
| Cabeólica S.A. | Wind power | ||
| ETHIOPIA | |||
| EthioChicken (Agflow Poultry) | Poultry production | USD 10 000 000 | |
| M-Birr Ltd. | Information technology | ||
| Schulze Global Ethiopia Growth and Transformation Fund I | Private equity fund | ||
| SINI Furniture Interior Design PLC | Furniture | Henrik Puustinen | EUR 1 000 000 |
| GHANA | |||
| Ghana Airport Cargo Centre | Logistics | USD 11 000 000 | |
| KENYA | |||
| Elgon Road Developments Limited | Hotel | ||
| Fuzu | Information technology | Fuzu Oy | EUR 1 500 000 |
| Lake Turkana Wind Power | Wind power | Peikko Group Oy | |
| NIGERIA | |||
| African Foundries Limited | Steel | Wärtsilä Oyj | |
| RUANDA | |||
| Hakan-Quantum Biomass Fired Power Plant | Biomass fired power plant | Fortum Power and Heat Oy, Andriz Group | USD 15 000 000 |
| New Forests Company (Rwanda) Limited | Forestry and wood products | ||
| SIERRA LEONE | |||
| Goldtree Sierra Leone Limited | Food production | ||
| SOUTH AFRICA | |||
| Evolution One LP | Private equity fund | ||
| Horizon Fund III Trust | Private equity fund | ||
| TANZANIA | |||
| Africado Limited | Agriculture | EUR 3 500 000 | |
| Kilombero Valley Teak Company Ltd. | Forestry and wood products | ||
| New Forest Company (Tanzania) Limited | Forestry and wood products | ||
| Precision Air Services Ltd. | Airline company | ||
| Sound and Fair Tanzania Limited | Forestry and wood products | ||
| Tanira Ltd. | Hand pumps | Lojer Oy | |
| UGANDA | |||
| New Forests Company (Uganda) Limited | Forestry and wood products | USD 10 000 000 | |
| UpEnergy Group | Energy efficiency | Climate Wedge Oy | |
| THE MEDITERRANEAN | |||
| TURKEY | |||
| Noksel A.S. | Steel pipes | Nokia Oyj | |
| THE MIDDLE EAST | |||
| Catalyst MENA Clean Energy Fund | Private equity fund | ||
| JORDAN | |||
| Arabia One For Clean Energy Investments PSC | Solar power | ||
| Falcon Ma’an for Solar Energy LLC | Solar power | ||
| FRV Solar Jordan | Solar power | ABB Suomi | |
| Jordan Solar One (Cayman) / Jordan PSC | Solar power | ABB Suomi | |
| LATIN AMERICA AND THE CARIBBEAN | |||
| CENTRAL AMERICA | |||
| CASEIF II Corporation Ltd. | Private equity fund | ||
| Central American Mezzanine Infra Fund I and II (CAMIF) | Private equity fund | ||
| Central American Renewable Energy and Cleaner Production Facility (CAREC) | Private equity fund | ||
| HONDURAS | |||
| Desarrollos Energéticos S.A. de C.V. | Small hydropower | Pöyry Oyj | |
| La Vegona | Hydropower | ||
| Los Laureles | Small hydropower | ||
| Mezapa Hydroelectric Project | Small hydropower | ||
| Valle Solar Power Project | Solar power | ABB Finland | |
| LATIN AMERICA | |||
| CIFI - Corporación Interamericana para el Financiamiento de Infraestructura, S.A | Financial institution | ||
| SEAF Latam Growth Fund | Private equity fund | ||
| The Forest Company Ltd. | Forestry and wood products | ||
| MEXICO | |||
| Pro Eucalipto Holding S.A.P.I de C.V. | Forestry and wood products | Dieffenbacher Panelboard Oy | |
| NICARAGUA | |||
| Banco Lafice-Bancentro S.A. | Bank | ||
| CENTRAL AND EASTERN EUROPE | |||
| SEAF Central and East European Growth Fund LLC | Private equity fund | ||
| SEAF South Balkan Fund B.V. | Private equity fund | ||
| RUSSIA | |||
| MP Russia Oy | Food products | Myllyn Paras Oy Konserni | |
| OOO AVA-Peter | Hospital | Scanfert Oy | |
| OOO Dan-Invest | Agriculture | ||
| OOO Skaala | Windows and doors | Skaala Oy | |
| Oy Nordic Russian Management Co - NORUM | Fund management | ||
| Rani Plast Kaluga LLC | Plastic products | Ab Rani Plast Oy | |
| UKRAINE | |||
| Aqueduct Ltd. | Metal products | Macring Oy | |
| INTERNATIONAL | |||
| Althelia Climate Fund SICAV-SIF | Environment fund | ||
| Dasos Timberland Fund I | Forestry fund | Dasos Capital Oy | |
| Global Environment Emerging Markets Fund III, L.P. (GEEMF) | Private equity fund | ||
| Interact Climate Change Fund S.A. | Development financing | ||
| MBH B.V. | Microfinance | ||
| Moringa S.C.A. Sicar | Agroforestry fund | ||
| Private Energy Market Fund Ky | Energy fund | Pöyry Oyj | |
| ShoreCap International Ltd. II | Microfinance | ||
| WWB Capital Partners, LP | Microfinance | ||
*) Shareholder or significant technology provider
**) Finnfund's disclosure policy has been updated. As of 1 September 2016 Finnfund publishes for example its share of financing. More information at Finnfund's website.
Finnish Fund for Industrial
Cooperation Ltd. (FINNFUND)
Uudenmaankatu 16 B
P.O. Box 391 FI-00121 Helsinki, Finland
tel. +358 9 348 434
fax +358 9 3484 3346
www.finnfund.fi