Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — FY2022 Earnings Presentation
41 slides from Adani Green Energy's earnings presentation, April 2022
Slide 1: Adani Green Energy Limited Earnings Presentation FY22
• Adani Green Energy Limited ... Earnings Presentation F Y22 Consolidated Financials 1
Slide 2: Contents
CONTENTS 1 Adani Group 2 AGEL: Company Profile 3 AGEL: Operational & Financial Highlights 4 AGEL: ESG 5 AGEL: Investment Rationale Annexures
Slide 3: Adani Group
Adani Group Renewables
Slide 4: Adani Group: A world class infrastructure & utility portfolio
Adani Group : A world class infrastructure & utility portfolio ~USD 206 bn1 Combined Market Cap Infrastructure Portfolio Incubator Energy & Utility Transport & Logistics Direct to consumer Other businesses (74.9%) (61.3%) (74.9%) (65%) (100%) (44%) AGEL ATL APSEZ AWL AEL NQXT2 Renewables T&D Ports &
Slide 5: Adani Group: Decades long track record of industry best growth rates
Adani Group : Decades long track record of industry best growth rates across sectors Port Cargo Throughput (MMT) Renewable Capacity (GW) Transmission Network (ckm) CGD7 (GAs8 covered) 12% 132% 21% 45% 3x 5x 3x 30% 1.5x 4% 7% 25% Adani Industry APSEZ Industry Adani AGEL Industry ATL Industry AGL 2014
Slide 6: Adani Group: Repeatable, robust & proven transformative model of investment
Adani Group: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Origination Site Development Construction Operation Capital Mgmt Activity • Site acquisition • Engineering & design • Redesigning the capital • Analysis & market • Life cycle O&M
Slide 7: 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 200,000 acres ~ 40 GW potential Geotechnical studies Resource rich Sites in strategic locations 85+ Wind data locations and detailed design plannin
Slide 8: Adani - TotalEnergies Renewable Partnership
Adani - TotalEnergies Renewable Partnership – Amongst Largest infrastructure and real asset platform with – One of the largest energy players in the world with presence deep expertise and experience in developing large scale across 130 countries & a leading liquefied natural gas player infrastructur
Slide 9: Adani Green Energy Limited: Company Profile
Adani Green Energy Limited Company Profile Renewables 9
Slide 10: AGEL: Leading Renewable Energy player in India
AGEL: Leading Renewable Energy player in India Pan India Presence 2 4x Locked-in Growth Renewable Capacity (in MW) 20,434 Operational Under exec../ Near Const. Wind Solar 5,410 MW – Operational 1 4x Solar-Wind Hybrid 11,791 MW – Under execution 130 3,233 MW – Near Construction 3 5,410 395 20,434 MW
Slide 11: Operational & Financial Highlights
Operational & Financial Highlights FY22 Renewables 11
Slide 12: AGEL: Executive Summary – FY22
AGEL: Executive Summary – FY22 Capacity Addition & Operational Performance Financial Performance ✓ Operational Capacity increases by 56% YoY to 5,410 MW 1 ✓ Revenue from Power Supply up by 56% YoY at Rs. 3,783 cr ✓ Total portfolio now stands at 20,434 MW with the latest receipt of Letter of Award an
Slide 13: Operational Capacity Addition & Sale of Energy – FY22
AGEL: Operational Capacity Addition & Sale of Energy – FY22 (YoY) Operational Capacity (in MW AC) Wind 5,410 1 Solar 56% 647 ` 3,470 1 497 4,763 ✓ Operational Capacity increases by 56% to 5,410 MW 2,973 ❑ 200 MW Green field commissioning: FY21 FY22 - 50 MW solar plants - 150 MW wind plants Sale of E
Slide 14: Operational Performance – FY22 (YoY)
AGEL: Operational Performance – FY22 (YoY) Solar Portfolio Performance Wind Portfolio Performance CUF (AC) Sale of Energy (mn units) CUF (AC) Sale of Energy (mn units) 23.8% 8,097 30.8% 22.5% 66% 1,329 ` 26.8% 123% ` 4,886 596 FY21 FY22 FY21 FY22 FY21 FY22 FY21 FY22 • Sale of Energy up by 66% on the
Slide 15: Financial Performance – FY22 (YoY)
AGEL: Financial Performance – FY22 (YoY) (All figures in INR Crore) Revenue from Power Supply EBITDA from Power Supply 1 3,783 56% 3,530 ` 60% ` 2,419 2,207 ▪ Robust growth in revenue from power supply is backed by capacity addition of 1,940 MW and improved solar and wind CUF. FY21 FY22 FY21 FY22 ▪
Slide 16: Bridge of EBITDA from Power Supply – FY21 to FY22
AGEL: Bridge of EBITDA from Power Supply – FY21 to FY22 (All figures in INR Crore) primarily due to capacity addition EBITDA up by 60% YoY on back of improved revenue and minor O&M cost increase despite significant increase in capacity 16
Slide 17: Debt Evolution from Mar-21 to Mar-22
AGEL: Debt Evolution from Mar-21 to Mar-22 Gross Debt 1 (INR Cr) Net Debt Evolution (INR Cr) 3,866 6,008 4 38,297 Working 1,945 2,476 Capital Loan MTM Change in changes in 14,547 Holdco Repayment Cash & Bank of Debt Foreign bond adding currency Mar-21 Mar-22 flexibility for loans future Gross Debt 1
Slide 18: De-risking & reduced finance cost through Prudent Debt Management
AGEL: De-risking & reduced finance cost through Prudent Debt Management Long Term vs Short Term Split – Mar’22 Gross Debt Mix 1 & Average Interest Cost Long Term Debt Short Term Debt 140% 12.0% 11.1% 120% 10.0% Includes Short 100% 8.8% Term Trade 13% 3% 8.0% New addition 22% Credits of INR 80% 1% in
Slide 19: Adani Green Energy Limited: ESG
Renewables Adani Green Energy Limited ESG
Slide 20: AGEL: Robust ESG Assurance Framework
AGEL : Robust ESG Assurance Framework Guiding principles UN Sustainable India Business & IFC E&S United Nations Green Bond Development Goals SBTi Biodiversity Performance Global Compact Principles Guiding (UN SDGs) Initiative (IBBI) Standards Policies principle Disclosure Standards TCFD GRI Standard
Slide 21: Update on ESG Program
AGEL: Update on ESG Program Guiding Principles Disclosure Standards ✓ Signatory to United Nations Global Compact (UNGC): Submitted first ✓ TCFD: Supports TCFD and the annual ESG Report enumerates Communication on Progress (COP) for FY21 progress on Governance; Strategy; Metrics and Targets and Risk
Slide 22: Update on ESG Program
AGEL: Update on ESG Program Key Updates on Environment & Social initiatives – FY22 ➢ Bio-diversity management ➢ Pollution control & GHG emission reduction ✓ Adopted a Technical Standard, developed in association with CII following IBBI Principles and IUCN Standard, to ensure ‘No Net Loss’ of biodive
Slide 23: AGEL – Adopted UN Sustainable Development Goals
AGEL– Adopted UN Sustainable Development Goals United Nations Sustainable Our Key Social Initiatives mapped to UNSDG Development Goals 2030 Education Gujarat – Enhancing quality of education through adoption of government primary 4. Quality Education Rajasthan schools. Renovation of public library i
Slide 24: Investment Rationale
AGEL: Investment Rationale Renewables
Slide 25: A Compelling Investment Case
AGEL: A Compelling Investment Case ▪ Pedigree of Adani Group: leadership in infrastructure energy & utility and transport & logistics sectors Strong Sponsorship ▪ Robust, reliable supply chain backed by strategic investments ▪ Strategic partnership with French Energy major TotalEnergies SE ▪ India t
Slide 26: Appendix: Operational & Financial Highlights Q4 FY22
Appendix Operational & Financial Highlights Q4 FY22
Slide 27: Operational Performance – Q4 FY22 (YoY)
AGEL: Operational Performance – Q4 FY22 (YoY) Solar Portfolio Performance Wind Portfolio Performance CUF (AC) 26.4% Sale of Energy (mn units) CUF (AC) Sale of Energy (mn units) 23.6% 24.3% 2,717 22.2% 254 92% ` 83% ` 1,482 132 Q4 FY21 Q4 FY22 Q4 FY21 Q4 FY22 Q4 FY21 Q4 FY22 Q4 FY21 Q4 FY22 • Sale of
Slide 28: Financial Performance – Q4 FY22 (YoY)
AGEL: Financial Performance – Q4 FY22 (YoY) (All figures in INR Crore) Revenue from Power Supply EBITDA from Power Supply 1 63% 1,128 ` 69% 1,059 ` 690 626 ▪ Robust growth in Revenue from Power Supply is backed by robust growth in capacities and improved Solar and Wind CUF. Q4 FY21 Q4 FY22 Q4 FY21 Q
Slide 29: Appendix: AGEL Receivables Details
Appendix 29 AGEL: Receivables Details
Slide 30: Receivables Ageing Profile
AGEL: Receivables Ageing Profile (in INR Cr) Due Not Due Off Takers 31-Mar-22 0-60 days 61-90 days 91-120 days 121-180 days >180 days Total TANGEDCO 165 95 51 60 110 199 514 NTPC 196 - - - - - - SECI 142 - - - - - - KREDL 67 21 5 5 10 38 79 TSSPDCL 27 14 4 10 17 85 130 Others 288 22 9 11 7 24 73 Tot
Slide 31: Appendix: RG1 & RG2 Operational & Financial Highlights – FY22
Appendix 31 AGEL: RG1 & RG2 Operational & Financial Highlights – FY22
Slide 32: RG1 Portfolio (930 MW) Performance in FY22
AGEL: RG1 Portfolio (930 MW) Performance in FY22 Plant Availability Grid Availability 99.6% 99.7% 99.3% 99.3% • Consistently high plant availability with further FY21 FY22 FY21 FY22 improvement of 10 bps CUF (AC) Sale of Energy (mn units) 23.4% 23.2% 1,908 1,892 • Consistently high grid availability
Slide 33: RG2 Portfolio (570 MW) Performance in FY22
AGEL: RG2 Portfolio (570 MW) Performance in FY22 Plant Availability Grid Availability 99.8% 99.9% 98.4% 98.9% • Consistently high plant availability with further improvement of FY21 FY22 FY21 FY22 10 bps CUF (AC) Sale of Energy (mn units) • Consistently high grid availability with further improvemen
Slide 34: Appendix: Asset Level Details
Appendix 34 AGEL: Asset Level Details
Slide 35: Asset Level Details – Operational
Asset Level Details – Operational Project Name / Contracted Capacity Capacity Counterparty PPA SPV Type Tariff COD Location (AC) (DC) Name Term AGETNL Solar 216 260 7.01 Mar-16 TANGEDCO 25 RSPL Solar 72 86 7.01 Feb-16 TANGEDCO 25 AGETNL KREL Solar 72 86 5.76 Mar-16 TANGEDCO 25 KSPL Solar 216 260 5.1
Slide 36: Asset Level Details – Operational (Contd.)
Asset Level Details – Operational (Contd.) Project Name / Contracted Capacity Capacity Counterparty PPA SPV Type Tariff COD Location (AC) (DC) Name Term PNCEL Punjab Solar 20 21 8.70 Mar-21 PSPCL 25 PNREL Punjab Solar 10 11 8.65 Feb-21 PSPCL 25 KNSSEPL Karnataka Solar 5 6 4.36 Oct-21 GESCOM 25 KNIVS
Slide 37: Asset Level Details – Operational (Contd.)
Asset Level Details – Operational (Contd.) Project Name / Contracted Capacity Capacity Counterparty PPA SPV Type Tariff COD Location (AC) (DC) Name Term 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 3.46 Mar-17
Slide 38: Asset Level Details – Under execution
Asset Level Details – Under execution Project Name / Contracted Capacity Capacity Counterparty PPA SPV Type Tariff Location (AC) (DC) Name Term Various SPVs Rajasthan/ Gujarat Solar+ Mfg 4,667 6,767 2.42 SECI 25 Various SPVs Rajasthan/ Gujarat Solar+ Mfg 1,250 1,813 2.54 SECI 25 AREEL Gujarat Solar
Slide 39: Asset Level Details – Near Construction
Asset Level Details – Near Construction Project Name / Contracted Capacity Capacity Counterparty PPA SPV Type Tariff Location (AC) (DC) Name Term Various SPVs Rajasthan/ Gujarat Solar+ Mfg 2,083 3,020 2.92 SECI 25 Various SPVs Rajasthan Solar 100 142 2.80 Ultratech 25 ASEJSPL Rajasthan Solar 600 900
Slide 40: 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 41: Thank You
Renewables 41 Thank You