Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Investor Presentation (February 2021)
39 slides from Adani Green Energy's investor presentation, February 2021
Slide 1: Adani Green Energy Limited Equity Presentation
Renewables Adani Green Energy Limited EQUITY PRESENTATION Fe bruar y 20 21 1
Slide 2: Contents
CONTENTS 1 Adani Group 2 AGEL: Company Profile 3 AGEL: Transformational Advantage 4 AGEL: ESG 5 Renewable Growth Story & Investment Rationale Appendix
Slide 3: Adani Group
Renewables Adani Group Amongst the Largest Infrastructure & Utility Portfolio of the World 3
Slide 4: Adani Group: A world class infrastructure & utility portfolio
Adani Group: A world class infrastructure & utility portfolio Transport & Logistics Portfolio Adani Energy & Utility Portfolio Adani 63.5% 100% 75% 55% Marked shift from B2B to B2C businesses - APSEZ SRCPL ATL AGEL Port & Logistics Rail T&D Renewables ATGL - Gas distribution network to serve key 100
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 (MT) Renewable Capacity (GW) Transmission Capacity (ckm) CGD7 (GAs8 covered) 161% 12% 21% 45% 2.5x 6x 3x 1.5x 30% 5% 7% 25% Industry APSEZ Industry AGEL Industry ATL Industry AGL 2014 972 MT 113
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 Analysis & market Life cycle O&M capital structure
Slide 7: AGEL portfolio overview: Total portfolio, operations, capital management
Total Portfolio Diversified Portfolio ESG 14,815 MW 1 11 states Development 72% solar; 11% wind; 17% wind-solar hybrid Pure-play Solar & Wind Assets 6,215 MW in Operation & ramp-up 8,600 MW Awarded Pipeline 100% Contracted Capacity Counterparty profile2 EBITDA margin 3 Fixed tariff Sovereign: 78% Op
Slide 8: Adani Green Energy Limited: Company Profile
Renewables Adani Green Energy Limited Company Profile 8
Slide 9: AGEL: Transformational Renewable Company
AGEL: Transformational Renewable Company Largest Listed 3,245 MW Operational 15,000 MW identified in Gujarat Renewable Site Plan & Company in India + 2,970 MW ramp up in 5 12 months 15,000 MW at other sites Development 8,000 MW Solar Upcoming Pipeline Tenders Over 11,000 MW in pipeline 600 MW Hybrid
Slide 10: Large, Geographically Diversified Portfolio
AGEL: Large, Geographically Diversified Portfolio 14,815 MW Portfolio 1 | 3,245 MW operational Average AGEL tariff below APPC 2 APPC @ 3.60/kWh Operational Under Implementation Wind Solar 3.24 Solar-Wind Hybrid 2.0 2.4 2.5 2.3 3.2 2.7 130 Apr'17 Dec'17 Jan'18 Aug'18 Jun'20 Dec'20 AGEL 50 345 Portfol
Slide 11: Transformational Advantage
AGEL: Transformational Advantage 11
Slide 12: Overall pipeline Development and de-risking philosophy
AGEL: Overall pipeline Development and de-risking philosophy Resource Assessment Land Identification Design Optimisation Origination 85+ Wind data locations 2,00,000+ acres land ~10% Cost Efficiency identified across India Land Acquisition Statutory Approvals Connectivity Development 1,00,000 acres
Slide 13: Transformational Advantage driven by de-risked pipeline
AGEL: Transformational Advantage driven by de-risked pipeline Map Khavda, 15,000 MW site 15,000 MW - Advanced Site Readiness Site area 2.7x Paris City Over 3 years of on site resource Resource Assessment estimation Solar potential map - Gujarat 70,000 acres of land Land Acquisition allotted by Govt.
Slide 14: Operational Excellence driving Value
AGEL: Operational Excellence driving Value Traditional Approach Plant level O&M Centralized Operations via ENOC Predictive Analytics leading to cost efficient O&M and high performance On a fleet of 11 Mn modules, capability to Predictive O&M processes leading to collect Data at string level of 22 mo
Slide 15: Value Creation through Transformative Investment Philosophy
AGEL: Value Creation through Transformative Investment Philosophy FY 17 FY 20 Cash Flow from Operations 2500 1965 2000 Capacity (MW) 748 MW CAGR of 47% 2,545 MW 1 1625 INR Crore 1500 1000 500 301 28 Investment Grade 0 Credit Rating Not Rated Rating BBB- 2 FY17 FY18 FY19 FY20 Capital Employed3 INR 50
Slide 16: Case Study: Strategic Alliance with TOTAL
Case Study: Strategic Alliance with TOTAL Monetization of Capital Formation Evolving Strategic Alliance between Adani Portfolio and TOTAL across Energy Spectrum Oct 2019 Apr 2020 Oct 2020 Jan 2021 37.4% stake acquisition in Adani Gas & Concluded 50:50 AGEL-TOTAL JV in Expanded 50:50 AGEL-TOTAL JV TO
Slide 17: AGEL: ESG
Renewables AGEL: ESG 17
Slide 18: AGEL: ESG Strategy Framework
AGEL : ESG Strategy Framework Purpose Strategic Pillars Corporate Citizenship & Responsible Business Role in Global Climate Action Enabling Social Transformation Practices Focus Areas Decarbonization of value chain Human capital management Ethics and integrity Biodiversity conservation Diversity, Eq
Slide 19: AGEL: Role in Global Climate Action
AGEL: Role in Global Climate Action Environment related Factors Offsetting Carbon Emission Conservation of Resource/ Waste Management Biodiversity Maintaining 3R (Reduce, Recycle and Climate Supporting low carbon Economy Caring and protecting biodiversity Reuse) for Waste management Awareness Provid
Slide 20: AGEL Key Initiatives to Reduce Environmental Damage
AGEL Key Initiatives to Reduce Environmental Damage Water consumption reduction initiatives Fast-paced Renewable Capacity addition leading to a greener future Operational capacity (MW AC) 25,000 Target capacity (MW AC) 1,958 1,970 2,545 2,950 372 808 FY16 FY17 FY18 FY19 FY20 9M FY21 FY25E Efficiency
Slide 21: Enabling Social Transformation
AGEL: Enabling Social Transformation Social Initiatives through Adani Foundation 1 : Core Areas Education Community Health Sustainable Livelihood Community Infrastructure Inclusive Growth, Safety & Other Initiatives at AGEL Hiring a diversified pool of talent with due representation of local populat
Slide 22: Adopting Responsible Business Practices
AGEL: Adopting Responsible Business Practices Independent Board implemented at AGEL & under implementation for ESG Governance Structure subsidiaries: 50% of the Board comprises of Independent Directors ESG Apex Comittee 4 out of 5 Board Committees comprise of Majority Independent Directors Ethics &
Slide 23: Renewable Growth Story & Investment Rationale - AGEL
Renewables Renewable Growth Story & Investment Rationale - AGEL 23
Slide 24: AGEL: Renewable Growth Story
AGEL: Renewable Growth Story India: Renewable Installed Capacity (GW) 2 Untapped resources in India - Significant potential for growth 1 Solar Capacity (GW) Wind Capacity (GW) Other Capacity (GW) Historic Targeted 749 347 Projected 45 CAGR: 18% >21x >9x 3x 450 potential potential potential Historic
Slide 25: AGEL: A Compelling Investment Case
AGEL: A Compelling Investment Case India targets Renewable capacity of 175 GW by 2022 & 450 GW by 2030 from 87 GW currently Strong Government Push - to renewable plants in India ensures continuous off-take of energy Locked-in capacity growth of 5x from 3.2 GW to 14.8 GW with already awarded projects
Slide 26: Appendix: Project Details
Appendix Adani Green Energy Limited Project Details
Slide 27: Asset Level Details - Operational
AGEL: Asset Level Details - Operational Solar Wind Projects Hybrid Capacity SPV Project Name / Location Type Contracted Capacity (AC) Tariff COD Counterparty Name PPA Term (DC) 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 5.761 Mar-16
Slide 28: Asset Level Details Operational (Contd.)
AGEL: Asset Level Details Operational (Contd.) Solar Wind Projects Hybrid Capacity SPV Project Name / Location Type Contracted Capacity (AC) Tariff COD Counterparty Name PPA Term (DC) 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 Gu
Slide 29: Asset Level Details - Under Construction
Asset Level Details - Under Construction Solar Wind Projects Hybrid SPV Project Name / Location Type Contracted Capacity (AC) Capacity (DC) Tariff Counterparty Name PPA Term 1 AWETNL UP Solar 50 73 3.07 UPPCL 25 Various SPVs TBD Solar+ Mfg 8000 11,600 2.921 SECI 25 AGEMPL - SECI 3 Gujarat Wind 250 2
Slide 30: Appendix: Operational & Financial Highlights
Appendix Adani Green Energy Limited Operational & Financial Highlights
Slide 31: Stable Operational Performance at Portfolio Level
AGEL: Stable Operational Performance at Portfolio Level Solar Wind Projects Capacity (MW AC) CUF % (AC) Solar Wind Solar Wind 397 27.86% 28.77% 397 72 22.41% 21.22% 22.68% 21.93% 2,553 1,898 2,148 FY19 FY20 9M FY21 FY19 FY20 9M FY21 Plant Availability Volume (MUs) & Average Realization (Rs/kwh) Sola
Slide 32: Consolidated Financial Performance for 9MFY21
AGEL: Consolidated Financial Performance for 9MFY21 Particulars 9M FY21 9M FY20 % Change FY20 FY19 Total Income 2,439 1,910 28% 2,629 2,131 Revenue from Power Supply 1,729 1,464 18% 2,065 1,913 Total EBITDA 1 1,917 1,323 45% 1,531 1,598 EBITDA from Power Supply 2 1,582 1,313 20% 1,837 1,723 EBITDA f
Slide 33: AGEL Debt Summary as on 30th Sept
AGEL Debt Summary as on 30th Sept 20 Debt Split by Currency (INR Cr) LT vs. ST Debt Split (INR Cr) Long Term Debt Short Term Debt Foreign Debt Indian Rupee Debt Includes Trade Consolidated Debt Credits of INR1,067 Cr to 6,712, 9,609, be replaced with Average interest rate 10.4% 41% 59% long term deb
Slide 34: Receivables Ageing Profile
AGEL: Receivables Ageing Profile (in INR Cr) Not Due Overdue 31-Dec-20 31-Dec-20 Off Takers 0-60 days 61-90 days 91-120 days 121-180 days >180 days Total Overdue TANGEDCO1 140 94 54 53 96 289 586 NTPC2 67 - - - - - - SECI3 72 - - - - - - Others 143 16 7 7 18 49 97 Total 423 110 61 60 114 338 683 Out
Slide 35: Appendix: Regulatory Landscape
Appendix Adani Green Energy Limited Regulatory Landscape
Slide 36: Operating in a robust and tested regulatory framework
Operating in a robust and tested regulatory framework over 20 years Ministry of Power (MOP) Empowered Committee CEA Tariff Determination Methodology Participants/Statutory bodies under Electricity Act, 2003 Section 62 (RoA) Section 63 (TBCB) To regulate and determine/adopt the tariff and to grant li
Slide 37: Regulatory Bodies across energy landscape in India
Regulatory Bodies across energy landscape in India Ministry Ministry of (conventional) Power (MoP) / Ministry of New & Renewable Energy (MNRE) Central Electricity Authority of India (CEA) Advisory Advisory arm of MoP on matters relating to the National Electricity Policy and formulating plans for th
Slide 38: Disclaimer
Disclaimer -looking sta ture developments of the business and , or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in their business, their competiti
Slide 39: Thank You
e adani SUC al Renewables Thank You
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