Adani Energy Solutions Ltd · NSE:ADANIENSOL

Adani Energy Solutions — Adani Transmission — Debt Investor Presentation (September 2021)

29 slides from Adani Energy Solutions's debt investor presentation, September 2021

  1. Slide 1: Adani Transmission Limited Debt Presentation

    Adani Transmission Limited Debt Presentation September 2021

  2. Slide 2: Contents

    CONTENTS 04-07 Adani Group 04 Company Profile, Growth, 09-22 ESG & Value Creation 09 24-27 Annexure 24

  3. Slide 3: Adani Group

    adani Transmission

  4. Slide 4: Adani: A world class infrastructure & utility portfolio

    Adani: A world class infrastructure & utility portfolio Transport & Logistics Portfolio Adani Energy & Utility Portfolio Adani 100% 75% • Marked shift from B2B to 63.8% 59.3% B2C businesses – APSEZ ATL AGEL NQXT2 • ATGL – Gas distribution Port & Logistics T&D Renewables network to serve key 100% 75%

  5. Slide 5: Adani: Decades long track record of industry best growth rates across sectors

    Adani: Decades long track record of industry best growth rates across sectors Transmission Network (ckm) Port Cargo Throughput (MMT) Renewable Capacity (GW) CGD7 (GAs8 covered) 45% 20% 132% 12% 1.5x 3x 30% 3x 5x 7% 4% 25% Industry ATL Industry APSEZ Industry Adani AGEL Industry AGL 2016 320,000 ckm

  6. Slide 6: Adani: Repeatable, robust & proven transformative model of investment

    Adani: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Origination Site Development Construction Operation Capital Mgmt Analysis & market Site acquisition Engineering & design Life cycle O&M Redesigning the capital intelligence planning str

  7. Slide 7: ATL: A platform well-positioned to leverage growth opportunities in T&D business

    ATL: A platform well-positioned to leverage growth opportunities in T&D business Execution Prowess Strategic Presence Balanced pool mix Transmission Network of Transmission - Presence in 12 states Transmission (FY21): Development with 27 transmission lines 18,801 ckt km1; 51% of EBITDA - Central poo

  8. Slide 8: Company Profile, Growth and Value Creation

    Company Profile, Growth and Value Creation

  9. Slide 9: ATL at a Glance

    ATL at a Glance Contracted Assets in ROA Assets in Transmission and Distribution Business Transmission Business 100%1 25.1% 100% 100% 74.9% TBCB(2) Assets Transmission HVDC AEML Assets Transmission line 13 Operating 12 Under-construction 4 Operating Integrated distribution HVDC Line in business Cate

  10. Slide 10: ATL: Transmission business at a Glance

    ATL: Transmission business at a Glance TBCB – Contracted Transmission Assets with Fixed Tariff (Sec. 63) ROA - Transmission Assets (Sec. 62) 35 yrs + 30 yrs of 35 yrs + 30 yrs remaining life of Network Pool Asset Life Asset Life Counterparty remaining life asset Function of line Counterparty Network

  11. Slide 11: ATL: Distribution (AEML) business at a Glance

    ATL: Distribution (AEML) business at a Glance Consumer-facing Integrated Utility (AEML) Key Characteristics HVDC Transmission Asset (Mumbai) Consumer Counterparty Consumers 3.04 million base Return on Assets Fixed Type of Regulated Perpetual (ROA -Section 62) Return Asset Life Asset Asset (Sec. 62)

  12. Slide 12: ATL: Growth Avenues

    ATL: Growth Avenues Regulated growth opportunities Opportunity Set in Transmission Opportunity Set in Distribution ▪ AEML: ATL geared to fully leverage – Continuous consumer addition opportunities for disciplined growth ▪ Existing pipeline of ~Rs. 150 through affordable and reliable bn power supply

  13. Slide 13: AEML: Value accretive to ATL and positioned towards future growth in Distribution sector

    AEML: Value accretive to ATL and positioned towards future growth in Distribution sector Before AEML acquisition Post AEML acquisition (In Rs. Crs) • Cashflow profile of ATL has 5,066 changed dramatically post 4,519 acquisition of AEML 2,937 3,113 2,770 • Self-funded growth and 1,997 2,005 1,938 hug

  14. Slide 14: ATL: Robust ESG Framework

    ATL: Robust ESG Framework United Nations GHG Protocol SBTi Global Compact Guiding IR framework Policies Guiding Principles and TCFD CDP disclosure principle reporting Disclosure Standards UN Sustainable GRI Standards Development Goals Policy Structure Focus Areas ESG • Environment Policy UNSDG align

  15. Slide 15: ATL: Environmental Philosophy

    ATL: Environmental Philosophy Offsetting Carbon Emission Natural Resource Conservation Biodiversity Management • Energy Management & Optimizing • Supporting low carbon economy auxiliary consumption • Biodiversity Management Plan • • • Afforestation and Conservation Awareness Improving Carbon Efficie

  16. Slide 16: ATL: Social Philosophy

    ATL: Social Philosophy Our social Initiatives are mapped to UNSDG 2030 Access to Education • Physical infrastructure and e-learning platform in rural areas. Tiroda, Dahanu and • Educational Kits (2830 students benefited) & School 1. No Poverty 4. Quality Education Sami village Uniforms to Anganwadi

  17. Slide 17: ATL: Governance Philosophy

    ATL: Governance Philosophy Fully Independent Committees Current Policies Comprising of 100% Independent Directors >> Overseeing Financial Due Diligence, Compliance and Nomination and Remuneration Policy Related Party Transaction Policy Audit Committee approval of Related Party Transactions Nominatio

  18. Slide 18: Transmission: Development, O&M Efficiencies and Capital Management driving shareholder value creation

    Transmission: Development, O&M Efficiencies and Capital Management driving immense shareholder value creation Fully funded Value Creation by Capital Management releasing Equity for Growth Case study USPP: Future of ATL Capital Management Program Capital Phase Development Operations Enabling Assets t

  19. Slide 19: Distribution (AEML): Significant De-risking through Capital Management

    Distribution (AEML): Significant De-risking through Capital Management Capital De-risking of Asset Underlying Value Creation AEML US$ 1 bn bond issue in Jan-20 QIA’s acquisition of 25.1% stake in AEML for Rs. 32 bn investment Key Attributes Key Attributes Debt Diversification Capex Reserve Systemic

  20. Slide 20: ATL's Capital Management Program brings diversity and elongated maturity to firm's debt profile

    ATL’s Capital Management Program brings diversity and elongated maturity to firm’s debt profile Refinancing risk minimised1 As of As of 12% 31st Mar 16 31st Mar 21 < 1 Y - 19% < 1 Y - 2% 1 to 5 Y - 69% 1 to 5 Y - 11% 89% Consolidated > 5 Y - 12% > 5 Y - 87% Rs. 85 bn Rs. 194 bn Net Debt FY16 FY21 Co

  21. Slide 21: ATL: Long-term value creation

    ATL: Long-term value creation Delivering solid EBITDA growth Efficient and Optimal Capital Allocation Locked-in growth for next 3-5 years Operational EBITDA (Rs. Crs) 4,233 Transmission growth 4,055 FY16 FY21 • 12 Under-construction TBCB projects worth 2,857 1,659 Rs. 143 bn to increase annual tarif

  22. Slide 22: ATL: Compelling Investment Case

    ATL: Compelling Investment Case Infrastructure • Pedigree of Adani Group: leader in infrastructure –transport, logistics, energy and utility space lineage • Proven track record of excellence in development & construction World-class • Robust operational metrics - line availability, supply reliabilit

  23. Slide 23: Annexure

    Adani Transmission Limited Debt Presentation | February 2 0 2 0 Transmission Annexure 14

  24. Slide 24: ATL and AEML Bond Portfolio

    ATL and AEML Bond Portfolio Highlights Obligor 1 – US$ 500 mn Obligor 2 – US$ 500 mn USPP – US$ 400 mn AEML – US$1 bn AEML – US$ 300 mn Assets STL, ATRL, CWRTL, RRWTL, ATIL MEGPTCL AEML AEML, PDSL PPP-8,9,10 FY21 Operational 1,725 610 1,659 1,659 EBITDA (Rs. Crs) Tenor 10 year 16.5 year 30 year 10 y

  25. Slide 25: ATL and AEML – Investment Grade Rated Platform

    ATL and AEML – Investment Grade Rated Platform International – ATL Obligor Group International- AEML US$ 300 mn Rating Agency Facility Rating/Outlook Rating Agency Facility Rating/Outlook Fitch Dollar Bond BBB-/Negative Fitch Dollar Bond BBB-/Negative S&P Dollar Bond BBB-/Stable Moody’s Dollar Bond

  26. Slide 26: ATL's Evolution and Operational Asset Portfolio as of Q1FY22

    ATL’s Evolution and Operational Asset Portfolio as of Q1FY22 ATL’s Transmission Network (ckt km) has grown 3.4x Adani Transmission Limited and added Distribution business in FY19 ATL’s “Grid-to-Switch” Integrated Platform 100% 100% 75% 100% 100% 100% 100% 100% 100% 100% 100% 100% ATSCL & WTGL, PPP A

  27. Slide 27: ATL's Under-construction Asset Portfolio as of Q1FY22

    ATL‘s Under-construction Asset Portfolio as of Q1FY22 Adani Transmission Limited 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Obra-C WRSS – Bikaner - Lakadia Kharghar MP MP NKTL Jam Kham- FBTL GTL Banas- HVDC# WKTL Package I Package II Badaun XXI (A) Khetri baliya - Vikhroli kant

  28. Slide 28: Thank You

    adani Transmission adani Transmission Thank You -¢

  29. Slide 29: Legal Disclaimer

    Legal Disclaimer The information contained in this presentation is provided by Adani Transmission Limited (together with its subsidiaries, the “Company” or “ATL”) to you solely for your reference and for information purposes only. This presentation is highly confidential and is being given solely fo

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