Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Investor Presentation (May 2023)
39 slides from Adani Green Energy's investor presentation, May 2023
Slide 1: Investor Presentation May 2023
Investor Presentation May 2023 1
Slide 2: Contents
CONTENTS 1 Adani Portfolio 2 AGEL: Company Profile 3 AGEL: Transformational Advantage 4 AGEL: ESG 5 AGEL: Investment Rationale Annexures
Slide 3: Adani Portfolio
Adani Portfolio | inith aaaue
Slide 4: Adani: A World Class Infrastructure & Utility Portfolio
Adani: 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 (69.2%) (57.8%) (71.6%) (65.1%) (100%) (63.2%) AGEL ATL APSEZ AEL NQXT1
Slide 5: 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 Growth 5x EBITDA 70% 1,2 EBITDA 92% 1,4 Core Portfolio Utility 92% Transport 85% Consumers ~400 mn Served Growth 3x
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 • Engineering & design • Redesigning the capital structure Activity • Analysis & market • Site acquisition • Life cycle
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 ~2,00,000 acres ~40 GW potential Geotechnical studies Resource rich sites in strategic locations 85+ Wind data locations and detailed design plannin
Slide 8: Adani Green Energy Limited: Company Profile
Adani Green Energy Limited Company Profile Renewables 8
Slide 9: AGEL at a glance
AGEL at a glance Adani Family 57.8% 3.7% 4 1.4% 1.3% 19.7% Other Public 16.1% Shareholders 50% 50% 100 % 100 % 100 % AGE23L 1 Other Operating Locked-in Under Execution Near construction 2,353 MW 5,733 MW 10,449 MW 1,899 MW portfolio: 20,434 MW Large Renewable 8,086 MW – Operational 86% Resource and
Slide 10: AGEL: Largest Renewable Energy power producer in India
AGEL: Largest Renewable Energy power producer in India Pan India Presence 1 2.5x Locked-in Growth Renewable Capacity (in MW) 45,000 10% of India’s RE Operational Under exec../ Near Const. Target Wind Solar 8,086 MW – Operational 5.5x Solar-Wind Hybrid 10,449 MW – Under execution 20,434 1,899 MW – Ne
Slide 11: Adani Green Energy Limited: Transformational Advantage
Adani Green Energy Limited Transformational Advantage 11
Slide 12: Business Philosophy focusing on De-risking at every stage of project lifecycle
Business Philosophy focusing on De-risking at every stage of project lifecycle SUSTAINING GROWTH MOMENTUM Project Execution Site and Evacuation − PMAG - Central team with deep experience − ~40GW of strategic sites with geotechnical, − Execution of large scale sites – 2.1 GW World’s resource analysis
Slide 13: 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 Gujarat Clusters Connectivity granted for entire ~2,00,000 Acres Of Land ~2,00,000 acres portfolio. Predominantly Owned By For pla
Slide 14: Expertise in developing Mega scale RE projects
Expertise in developing Mega scale RE projects FY23 2.1 GW Single Location Hybrid RE Projects spread over ~ 11,500 acres World’s largest Hybrid RE Cluster 7X Next Milestone GJ: Khavda 15 GW Hybrid Project Module: 570+ Wp (33.6 Million Nos) MMS: 100% Tracker with Robotic Cleaning WTG: 5X machines ~ 3
Slide 15: Project Management & Assurance Group (PMAG)
Project Management & Assurance Group (PMAG) - End to end project integration Bidding, Project Development & Basic Site Scouting Engineering Execution Operations Concept Integrated Project Management Commissioning Strength: Team of 120 professionals having hands-on experience of above 2,000 man-years
Slide 16: Technology Enabled Operational Excellence
Technology Enabled Operational Excellence – AGEL operating assets currently spread across 12 states. Portfolio managed by O&M team of ~ 1100 personnel – Cluster based operating model enabling smooth governance and efficient utilization of manpower and spares: Personnel spread across Central office →
Slide 17: 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 Mgmt. throughout Project lifecycle De-risking integrated in Capital Project Financing Stabilization HoldCo. Financing Post-Stabilization Phase SPV level Pha
Slide 18: AGEL: Growth and Cash Generation capability De-risked
AGEL: Growth and Cash Generation capability De-risked Industry leading Capacity growth with steadily increasing Operating Base thereby reducing the overall portfolio risk 9,000 8,000 Operational Capacity (MW) 7,000 6,000 5,000 33% CAGR 4,000 8,086 3,000 5,410 2,000 3,470 2,545 1,000 1,918 1,970 - Ma
Slide 19: Adani Green Energy Limited: ESG
Adani Green Energy Limited ESG Renewables
Slide 20: AGEL: Robust ESG Framework
AGEL: Robust ESG Framework Guiding principles IFC E&S United Nations UN Sustainable India Business & Biodiversity Green Bond Performance Global Compact Development Goals Initiative (IBBI) Principles Standards Disclosure Standards Guiding Policies TCFD SASB GRI Standards CDP disclosure BRSR principle
Slide 21: AGEL: ESG - Progress & Key Milestones
AGEL: ESG - Progress & Key Milestones CO2 Emissions avoided (mn ton) 36.70 Cumulative CO2 Emission avoided (Mn ton) Year wise CO2 Emission avoided (Mn ton) 23.20 14.60 13.50 9.40 8.60 5.38 4.02 5.20 3.58 0.58 0.44 1.80 1.22 0.14 0.14 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Cumulative CO2 emission av
Slide 22: AGEL: Strong Governance Framework
AGEL: Strong Governance Framework Key Governance Areas Key Highlights ESG Governance Structure ✓ 50% Independent Directors Corporate Responsibility Board Independence & Diversity Committee at Board level ✓ 20% Women Directors ✓ Corporate Responsibility Committee in place with 100% Independent Direct
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 Rajasthan, o Provided Hospital beds in Karnataka; provided chairs and water coolers in Rajasthan Health 3. Good Health & Well-being Karnataka & other o Conduct
Slide 24: AGEL: ESG – Ratings, Awards and Recognition
AGEL: ESG – Ratings, Awards and Recognition ESG Ratings AGEL’s Rating CSRHub (Consensus ESG Rating) ✓ Ranking of 97 percentile, with consistent ranking above Alternative Energy industry average Sustainalytics ✓ ESG Risk Rating of ‘Low Risk’ with a score of 15.3, significantly better than global Util
Slide 25: Case Study: AGEL becomes Water Positive
Case Study: AGEL becomes Water Positive Aligning to UN Sustainable Development Goal 6 ✓ Committed to water neutrality through reducing water consumption & conservation of water Potential rainwater Total freshwater intake Water saved is harvested and recharge for consumption created Certified Water +
Slide 26: AGEL: Investment Rationale
AGEL: Investment Rationale Renewables
Slide 27: 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 28: Appendix: AGEL Operational & Financial Performance
Appendix AGEL: Operational & Financial Performance 28
Slide 29: AGEL: Operational Performance
AGEL: Operational Performance Operational Capacity (MW AC – PPA capacity) CUF % (AC) Solar Wind Hybrid 8,086 Solar Wind Hybrid 35.5% 5,410 2,140 30.8% 26.7% 26.8% 3,470 1 971 23.8% 24.7% 25.2% 2,545 647 22.6% 22.5% 1 497 397 4,763 4,975 2,973 2,148 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Plant Avail
Slide 30: AGEL: Financial Performance
AGEL: Financial Performance (All figures in INR Crore) Revenue from Power Supply EBITDA from Power Supply 1 5,538 5,825 3,530 3,783 2,419 2,207 2,065 1,859 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 EBITDA from Power Supply (%) Cash Profit 2 89% 91% 92% 92% 3,192 1,854 1,250 529 FY20 FY21 FY22 FY23 FY2
Slide 31: Appendix: AGEL Asset Level Details
Appendix 31 AGEL: Asset Level Details
Slide 32: 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 33: 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 PNCEL Punjab Solar 20 21 8.7 Mar-21 PSPCL 25 PNREL Punjab Solar 10 10.5 8.65 Feb-21 PSPCL 25 KNSSEPL Karnataka Solar 5 6.3 4.36 Oct-21 GE
Slide 34: 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 35: 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/ Gujarat Solar+ Mfg 4,667 6,767 2.42 SECI 25 Various SPVs Rajasthan/ Gujarat Solar+ Mfg 1,534 2,224 2.54 SECI 25 AREEL Gujarat Solar 150 225
Slide 36: 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 Rajasthan Hybrid 2.41 SECI 25 Wind: 200 Wind: 200 Total Hybrid 600 770 1,055 2.41 10,449 14
Slide 37: Asset Level Details – Near Construction
Asset Level Details – Near Construction Contracted Capacity Capacity Counterparty PPA SPV Project Location Type Tariff (AC) (DC) Name Term Various SPVs Rajasthan/ Gujarat Solar+ Mfg 1,799 2,609 2.92 SECI 25 Various SPVs Rajasthan Solar 100 142 NA Merchant NA Total Near Construction 1,899 2,751 2.92
Slide 38: 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 39: Thank You
Renewables 39 Thank You
Adani Green Energy — Investor Presentation (May 2023) on 6ix