Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Investor Presentation (May 2022)
35 slides from Adani Green Energy's investor presentation, May 30, 2022
Slide 1: Intimation of Analysts / Institutional Investors Meeting - Presentation
Date: May 30, 2022 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 Analysts / Institutional Investors M
Slide 2: Adani Green Energy Limited Investor Presentation June 2022
Adani Green Energy Limited Investor Presentation June 2022
Slide 3: Table of Contents
Table of Contents 1 Adani Portfolio – Overview 2 Adani Green Energy Limited – Company Profile 3 Adani Green Energy Limited - Business Philosophy 3a Strategic Sites & Evacuation 3b Project Management & Assurance Group (PMAG) 3c O&M Capabilities 3d Capital Management Philosophy 4 AGEL Investment Case
Slide 4: Adani Portfolio - Overview
01 Adani Portfolio - Overview STRICTLY CONFIDENTIAL
Slide 5: Adani: A World Class Infrastructure & Utility Portfolio
Adani: A World Class Infrastructure & Utility Portfolio ~USD 206 bn1 Combined Market Cap Infrastructure Portfolio Incubator Energy & Utility Transport & Logistics Direct to consumer Other businesses (72.3%) (60.5%) (73.9%) (65.6%) (100%) (44.0%) AGEL ATL APSEZ AWL AEL NQXT2 Renewables T&D Ports & Lo
Slide 6: Adani: Decades long track record of industry best growth rates across sectors
Adani: Decades long track record of industry best growth rates across sectors Port Cargo Throughput (MMT) Renewable Capacity (GW) Transmission Network (ckm) CGD7 (GAs8 covered) 45% 12% 132% 20% 3x 5x 3x 30% 1.5x 4% 7% 25% Industry Adani APSEZ Industry AGELAdani Industry ATL Industry AGL 2014 972 MMT
Slide 7: 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 • Site acquisition • Engineering & design • Redesigning the capital structure Activity • Analysis & market • Life cycle
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 ~2,00,000 acres ~40 GW potential Geotechnical studies Resource rich sites in strategic locations 85+ Wind data locations and detailed design plannin
Slide 9: Adani & TotalEnergies Renewable Partnership
Adani & TotalEnergies Renewable Partnership Adani and TotalEnergies have a long-term partnership and commitment to expanding the renewable footprint through AGEL – Amongst Largest infrastructure and real asset platform with deep – One of the largest energy players in the world with presence across e
Slide 10: Adani Green Energy Limited (AGEL): Company Profile
02 Adani Green Energy Limited (AGEL): Company Profile STRICTLY CONFIDENTIAL
Slide 11: AGEL at a glance
AGEL at a glance Adani Family 60.5% 19.8% 19.7% Public Shareholders 50% 50% 100 % 100 % 100 % AGE23L 1 Other Operating 2 Locked-in Under Execution Near construction 2,353 MW 3,057 MW 11,791 MW 3,233 MW portfolio: 20,434 MW 2 Large 5,410 MW – Operational 2 89% Resource and 12 resource-rich states Ren
Slide 12: Growth and Cash Generation capability Derisked
Growth and Cash Generation capability Derisked Assets contracted under 25 year PPA, 89% of contracted capacity on fully built basis is contracted to sovereign / sovereign equivalent counterparties Development risk to reduce with increasing proportion of Operating Capacity (for locked-in portfolio of
Slide 13: Track record of high growth coupled with actual performance consistently higher than projections
Track record of high growth coupled with actual performance consistently higher than projections AGEL has consistently outperformed projections for its operational assets Restricted Group 1 (930 MW) – EBITDA (Projected vs. Actual) Restricted Group 2 (570 MW) - EBITDA (Projected vs. Actual) Projected
Slide 14: Adani Green Energy Limited (AGEL): Business Philosophy
03 Adani Green Energy Limited (AGEL): Business Philosophy STRICTLY CONFIDENTIAL
Slide 15: Business Philosophy focusing on De-risking at every stage of project lifecycle
Business Philosophy focusing on De-risking at every stage of project lifecycle DE-RISKING AT EVERY STAGE Site and Evacuation Project Execution − ~40GW of strategic sites with geotechnical, − PMAG - Central team with deep experience resource analysis & design work done − Example: Execution of 648 MW
Slide 16: 3a. Strategic Sites & Evacuation
3a. Strategic Sites & Evacuation
Slide 17: Construction ready Strategic Sites with high resource potential (40GW)
Construction ready Strategic Sites with high resource potential (40GW) Identified high resource potential sites of ~2,00,000 acres in Rajasthan and Gujarat Rajasthan and Connectivity granted for entire Gujarat Clusters ~2,00,000 Acres Of Land ~2,00,000 acres portfolio. Predominantly Owned By For pla
Slide 18: Additional Sites under Development (10.5 GW)
Additional Sites under Development (10.5 GW) Future Readiness with High Resource Potential sites in Maharashtra, Karnataka, Tamil Nadu Strategy to acquire Focus States Average CUF Barren Non-agricultural Maharashtra, Karnataka Solar DC CUF ~19%-21% Waste land Tamil Nadu Wind CUF ~40%+ ✓ Wind & Solar
Slide 19: Case Study: Renewable cluster deployment of up to 15 GW in Rajasthan
Case Study: Renewable cluster deployment of up to 15 GW in Rajasthan Site Development mostly de-risked 1.7 GW Hybrid projects PPA already secured, expected commissioning by July 2022 Stakeholder Good relations established with local Management administration helping smooth execution 600 MW Hybrid pr
Slide 20: 3b. Project Management & Assurance Group (PMAG)
3b. Project Management & Assurance Group (PMAG)
Slide 21: Project Management & Assurance Group (PMAG) - End to end project integration
Project Management & Assurance Group (PMAG) - End to end project integration Bidding, Project Development & Site Scouting Basic Engineering Execution Operations Concept Integrated Project Management Commissioning Strength: Team of 90 professionals having hands-on experience of above 2,000 man-years
Slide 22: Project Management & Assurance Group (PMAG) – Impact & Value additions
Project Management & Assurance Group (PMAG) – Impact & Value additions Effective Seamless Project Delivery on Support Decision Managing Priorities Project Governance Structure Time, Cost and returns Making • Effective Project Management • Integrated Project Schedules ( Primavera) teams • Capex basel
Slide 23: Demonstrated Project Execution Capability
Demonstrated Project Execution Capability Project Management & Assurance Group (PMAG) for control over end-to-end project execution – Team of 90 professionals having hands-on experience of 2,000+ man-years of complete project management cycle – Capacity addition of 925 MW in FY21 during COVID19 pand
Slide 24: 3c. O&M Capabilities
adani Renewables 3c. O&M Capabilities
Slide 25: Technology Enabled Operational Excellence
Technology Enabled Operational Excellence – AGEL operating assets currently spread across 12 states and 60 locations. Portfolio managed by O&M team of 630 personnel – Cluster based operating model enabling smooth governance and efficient utilization of manpower and spares: Personnel spread across Ce
Slide 26: Granular CUF Waterfall to identify Generation losses
Granular CUF Waterfall to identify Generation losses Traditional Approach ENOC – Gap identification at granular level Solar 3.70% 27.53% 4.25% 0.13% 0.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.48% 0.00% 0.14% 27.53% 23.83% 23.83% 0.01% 0.03% P50 CUF Gap Actual CUF P50 CUF Full Ramp Grid Radiation Plant AC
Slide 27: 3d. Capital Management Philosophy
3d. Capital Management Philosophy
Slide 28: Replicating Adani Business Model: Capital Management Philosophy
Replicating Adani Business Model: Capital Management Philosophy De-risking of underling SPVs to generate and release surplus cashflows for AGEL De-risking integrated in Capital Mgmt. throughout Project Project Financing Stabilization HoldCo. Financing Post-Stabilization Phase SPV level Phase lifecyc
Slide 29: HoldCo Financing: Maiden HoldCo Green Bond Issuance by AGEL
HoldCo Financing: Maiden HoldCo Green Bond Issuance by AGEL Cash Waterfall – AGEL raised USD 750 mn through Holdco bond issuance under the 144A / Reg S format with flexibility to raise additional USD 950 mn to fund future growth. FCFE 1 – All round participation from Real Money Investors, comprising
Slide 30: Construction Financing: Fully Funded Growth through Construction Framework Agreement
Construction Financing: Fully Funded Growth through Construction Framework Agreement – AGEL has signed up Construction Framework Agreement for under construction projects for US$1.35 bn with 12 international banks – Revolving capex facility: 1,690 MW hybrid projects funded as first set of projects,
Slide 31: Takeout Financing: Established template of financing from debt capital markets
Takeout Financing: Established template of financing from debt capital markets, replicable in future Summary cashflow waterfall of Risk Mitigants in-built in RG 2 typical green bond 1 Taxes and operating expenses – Standard project finance features – Clean first ranking security Robust Structural –
Slide 32: Adani Green Energy Limited (AGEL): Investment Case
04 Adani Green Energy Limited (AGEL): Investment Case STRICTLY CONFIDENTIAL
Slide 33: AGEL: Key Investment Highlights
AGEL: Key Investment Highlights – World class project execution with equipment sourced from tier 1 suppliers through strategic alliances Excellent execution – Central monitoring of all project execution by Project Management & Assurance Group track record – Track record of executing projects ahead o
Slide 34: 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 35: Thank You
Thank You
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