Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Investor Presentation (March 2024)
40 slides from Adani Green Energy's investor presentation, Mar 16, 2024
Slide 1: Intimation of interaction with Investors / Analysts
Date: March 16, 2024 To BSE Limited The National Stock Exchange of India Limited P J Towers, “Exchange Plaza”, Dalal Street, Bandra – Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 541450 Scrip Code: ADANIGREEN Dear Sir, Sub: Intimation of interaction with Investors / Analy
Slide 2: Adani Green Energy Limited Equity Investor Presentation March 2024
1 Adani Green Energy Limited Equity Investor Presentation March 2024 Photo: AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan
Slide 3: Table of Contents
Table of Contents 1 Adani Portfolio – Overview 2 India – Renewable Opportunity & AGEL – Company Profile 3 AGEL – Business Philosophy 3a Origination and Development Readiness 3b Operational Excellence 3c Capital Management Philosophy 4 AGEL – ESG Framework & Commitments 5 AGEL – Investment Rationale
Slide 4: Adani Portfolio
adani Renewables O17 Adani Portfolio
Slide 5: Adani Portfolio: A World class infrastructure & utility portfolio
Adani Portfolio: A World class infrastructure & utility portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal & Incubator Energy & Utility Transport & Logistics Direct to consumer Mining (72.6%) (56.4%) (73.2%) (65.9%) (100%) (63.2%) AGEL AESL APSE
Slide 6: Adani Portfolio: Decades long track record of industry best growth
Adani Portfolio: Decades long track record of industry best growth with national footprint Secular growth with world leading efficiency National footprint with deep coverage Growth 3x 6 Growth 4x 6 EBITDA 70% 1,2 EBITDA 92% 1,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL ATGL Adani’s Core Infra. Platfo
Slide 7: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Center of Excellence Project Management & Assurance Group (AIIL) AIMSL1 Policy -Strategy - Risk Origination Site Development Construction Operation Capital Mgmt Activity • Ana
Slide 8: AGEL: Replicating Group's Simple yet Transformational Business Model
AGEL: Replicating Group's Simple yet Transformational Business Model Secure Sites & Connectivity Resource Assessment Construction Readiness Development & Geotechnical studies ~2,00,000 acres ~40 GW potential & Special studies (AIIL) Construction 85+ Wind data locations Resource rich sites in strateg
Slide 9: India: Renewable Growth Opportunity & AGEL: Company Profile
02 India: Renewable Growth Opportunity & Adani Green Energy Limited (AGEL): Company Profile Photo: AGEL’s Solar plant at Anjar, Gujarat
Slide 10: Massive push for Growth of Renewable Energy in India
Massive push for Growth of Renewable Energy in India Enablers for Renewable Energy Installed Capacity (GW) • Nation’s commitment to reaching 500 GW non-fossil power capacity 777** by 2030 Govt • Supporting regulations in form of ISTS Waiver, Green Open Access, commitment RPO/RGO, Hydro & storage pus
Slide 11: AGEL – Focused on leading the energy transition with sustainable value creation
AGEL – Focused on leading the energy transition with sustainable value creation Our Strategy Focused on Merchant & C&I Capitalizing on Digital focus Disciplined Renewables with to act as value execution across project capital Energy storage enhancer expertise lifecycle management Our Commitment Comm
Slide 12: AGEL – India's largest renewable player and world's 2nd largest solar PV developer
AGEL – India’s largest renewable player and world’s 2nd largest solar PV developer 1 Strategically located in 12 Resource rich states 2 2.3x Locked-in Growth Renewable Capacity (in MW) 10% of Solar 45,000 India’s RE Ladakh Target Wind J&K 9,604 MW – Operational 4.7x Himachal Pradesh 12,174 MW – Unde
Slide 13: AGEL – Holding Structure & Key Portfolio Highlights
AGEL – Holding Structure & Key Portfolio Highlights Adani Family 56.4% 7.1% 1 2.7% 1.4% 19.7% 12.7% Other Public Shareholders Locked-in portfolio: 21,778 MW AGEL - TotalEnergies 50:50 JV AGEL (100% Owned) AGE23L ARE9L Total – 1,050 MW Operational Under Execution 2,353 MW Operational – 300 MW 6,951 M
Slide 14: AGEL – Growth & Cash Generation Capability De-risked
AGEL – Growth & Cash Generation Capability De-risked Operational Capacity & EBITDA from Power Supply EBITDA from Power Suppply (INR Cr.) 46% CAGR 8,086 Operational Capacity (MW) 33% CAGR 5,410 3,470 5,538 2,545 3,508 1,918 1,970 2,207 1,859 834 1,710 FY18 FY19 FY20 FY21 FY22 FY23 Steadily increasing
Slide 15: Adani Green Energy Limited: Business Philosophy
03 Adani Green Energy Limited (AGEL): Business Philosophy Photo: AGEL’s Dayapar Wind Cluster, Gujarat
Slide 16: 3a. Origination and Development Readiness
3a. Origination and Development Readiness
Slide 17: Construction Ready Strategic Sites with High Resource Potential
Construction Ready Strategic Sites with High Resource Potential Identified high resource potential sites of ~2,00,000 acres in Rajasthan and Gujarat ~2,00,000 Acres Of Land Connectivity granted for entire Rajasthan and Gujarat Clusters Predominantly Owned By portfolio For planned growth projects con
Slide 18: Project Management, Execution and Assurance through Adani Infra India Limited
Project Management, Execution and Assurance through Adani Infra India Limited Project Management, Execution and Assurance Project execution, Geotechnical, site suitability Engineering, design & Commissioning, monitoring, quality studies & advance resource sourcing management testing & handover manag
Slide 19: Expertise in Developing Mega Scale Renewable Energy Projects
Expertise in Developing Mega Scale Renewable Energy Projects − Then, the largest single location solar power plant 648 World’s largest MW − Executed within a record time of 8 months single location Solar project Module 330 Wp 3x MMS Fixed Tilt (99%) Tracker (1%) Kamuthi: Tamil Nadu (FY16) − India’s
Slide 20: 3b. Operational Excellence
adani Renewables 3b. Operational Excellence
Slide 21: Operational Excellence through Energy Network Operation Center (ENOC)
Operational Excellence through Energy Network Operation Center (ENOC) − Real time monitoring of operating assets across 12 states through ENOC at Ahmedabad − Granular performance insights − Predictive Maintenance optimizing Mean time between failure (MTBF) − Suggests corrective actions in real time
Slide 22: 3c. Capital Management Philosophy
3c. Capital Management Philosophy
Slide 23: Replicating Adani Business Model: Capital Management Philosophy
Replicating Adani Business Model: Capital Management Philosophy De-risking of SPVs to generate and release surplus cashflows for AGEL Mgmt. throughout Project lifecycle De-risking integrated in Capital Project Financing Stabilization HoldCo. Financing Post-Stabilization Phase SPV level Phase LCs & s
Slide 24: ESG Framework & Commitments
Adani Green Energy Limited (AGEL): 04 ESG Framework & Commitments Photo: AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan (bifacial modules with horizontal single axis trackers)
Slide 25: Assurance backed ESG framework
Assurance backed ESG framework Guiding principles India Business & IFC E&S United Nations UN Sustainable Green Bond SBTi Biodiversity Performance Global Compact Development Goals Principles Initiative (IBBI) Standards Guiding Policies principles Disclosure Standards TCFD TNFD GRI Standards CDP discl
Slide 26: Substantial Avoidance of CO2 Emissions
Substantial Avoidance of CO2 Emissions CO2 Emissions avoided (mn ton) Key ESG Targets FY25 Indicator Status: 9M FY24 80.0* Target Ranking in ESG benchmarking of Top 10 in RE sector globally - Sustainalytics Top 10 electric utility sector in the world Top 3 in RE Sector globally - ISS ESG 13.5 11.6 W
Slide 27: ESG Ratings, Awards and Recognition
ESG Ratings, Awards and Recognition ESG Commitments ESG Ratings AGEL’s Rating CSRHub (Consensus ESG Rating) Ranking of 95 percentile, with consistent ranking above Alternative Energy industry average ISS ESG Prime Band (B+), Ranked 1st in RE Sector in Asia and amongst Top 3 in RE Sector globally ESG
Slide 28: Investment Rationale
05 Investment Rationale Photo: AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan
Slide 29: Key Investment Highlights
Key Investment Highlights – Resource Availability: Strategic sites with generation potential of ~40 GW backed by comprehensive geotechnical studies, fully prepared evacuation infrastructure, and meticulously crafted design work & resource analysis. Developmental & – Project Management, Execution and
Slide 30: Annexures: AGEL: Operational & Financial Performance
Annexures AGEL: Operational & Financial Performance
Slide 31: AGEL: Operational Performance
AGEL: Operational Performance Operational Capacity (MW AC – PPA capacity) CUF % (AC) Solar Wind Hybrid Solar Wind Hybrid 8,478 41.5% 8,086 35.5% 2,140 32.2% 2,140 30.8% 26.7% 26.8% 5,410 1,275 24.7% 25.2% 971 22.6% 22.5% 23.8% 24.0% 647 3,470 2,545 497 397 4,763 4,975 5,063 2,973 2,148 FY20 FY21 FY2
Slide 32: AGEL: Financial Performance
AGEL: Financial Performance Revenue from Power Supply EBITDA from Power Supply 1 5,538 5,412 5,825 5,794 3,530 3,783 2,419 2,207 2,065 1,859 FY20 FY21 FY22 FY23 9M FY24 FY20 FY21 FY22 FY23 9M FY24 EBITDA from Power Supply (%) Cash Profit 2 92% 92% 92% 3,192 89% 91% 2,944 1,854 1,250 529 FY20 FY21 FY
Slide 33: Annexures: AGEL: Asset Level Details
Annexures AGEL: Asset Level Details
Slide 34: Asset Level Details – Operational
Asset Level Details – Operational Contracted Capacity Capacity COD/ Counterparty PPA SPV` Project Location Type Tariff Capitalizati (AC) (DC) on Name Term Tamil Nadu (AGETNL) Solar 216 260 7.01 Mar-16 TANGEDCO 25 Tamil Nadu (RSPL) Solar 72 86 7.01 Feb-16 TANGEDCO 25 AGETNL Tamil Nadu (KREL) Solar 72
Slide 35: Asset Level Details – Operational (contd.)
Asset Level Details – Operational (contd.) Contracted Capacity Capacity COD/ Counterparty PPA SPV Project Location Type Tariff (AC) (DC) Capitalization Name Term KNSSEPL Karnataka Solar 5 6.3 4.36 Oct-21 GESCOM 25 KNIVSEPL Karnataka Solar 20 25 4.36 Mar-21 BESCOM 25 KNBSEPL Karnataka Solar 20 25 4.3
Slide 36: Asset Level Details – Operational (contd.)
Asset Level Details – Operational (contd.) Contracted Capacity Capacity COD/ Counterparty PPA SPV Project Location Type Tariff Capitaliza (AC) (DC) Name Term tion AGEL – Lahori Madhya Pradesh Wind 12 12 5.92 Mar-16 MPPMCL 25 AWEGPL Gujarat Wind 30 30 4.19 Mar-17 GUVNL 25 AWEGPL Gujarat Wind 18 18 3.
Slide 37: Asset Level Details – Under Execution
Asset Level Details – Under Execution Contracted Capacity Capacity Counterparty PPA SPV Project Location Type Tariff (AC) (DC) Name Term Various SPVs Rajasthan Solar+ Mfg 1,000 1,370 2.42 SECI 25 Various SPVs Gujarat Solar+ Mfg 2,000 2,740 2.42 SECI 25 Various SPVs Gujarat Solar+ Mfg 667 914 2.42 SE
Slide 38: Asset Level Details – Under Execution (contd.)
Asset Level Details – Under Execution (contd.) Contracted Capacity Planned Capacity Planned Capacity Counterparty PPA SPV Project Location Type Tariff (AC) (AC) (DC) Name Term 600 Solar: 570 Solar: 855 AHEJFL Gujarat Hybrid 2.41 SECI 25 Wind: 200 Wind: 200 Total Hybrid 600 770 1,055 2.41 12,174 16,8
Slide 39: Disclaimer
Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Adani Green Energy Limited (“AGEL”),the future outlook and growth prospects, and fut
Slide 40: Thank You
adani Renewables Thank You
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