Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Investor Presentation (May 2025)
40 slides from Adani Green Energy's investor presentation, May 2025
Slide 1: Adani Green Energy Limited Equity Investor Presentation
Adani Green Energy Limited Equity Investor Presentation May 2025 AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan
Slide 2: Table of Contents
Table of Contents 1 Adani Portfolio: Overview Executive Summary: 2 India - Renewable Opportunity & AGEL - Company Profile 3 AGEL: Business Strategy 3a Project Development Excellence 3b Operational Excellence 3c Growth with Disciplined Capital Management 4 AGEL: ESG Framework & Commitments Annexures
Slide 3: Adani Portfolio
adani Renewables O1 Adani Portfolio
Slide 4: Adani Portfolio: A World class infrastructure & utility portfolio
Adani Portfolio: A World class infrastructure & utility portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal Direct to Incubator Energy & Utility Transport & Logistics & Mining consumer (100%) (100%) (73.97%) (100%) (50.00%) (100%) (100%) ANIL Ada
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 6 Growth 3x 6 EBITDA 72% 1,2,3 EBITDA 92% 1,3,4 AEL APSEZ Growth 4x 6 Growth 3x 6 AGEL Adani’s Core Infra. Platform
Slide 6: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT1 OPERATIONS CONSUMERS 2 New C.E.O. Adani Infra (India) Limited (AIIL) | ITD Cementation Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Const
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 Geotechnical studies ~2,50,000 acres of resource rich sites Development for renewable in strategic locations 50+ GW potential & Special studies (AIIL) ~5+ GW of
Slide 8: Executive Summary: India Renewable Opportunity & AGEL Company Profile
02 Executive Summary India: Renewable Growth Opportunity & Adani Green Energy Limited (AGEL): Company Profile AGEL’s Solar plant at Anjar, Gujarat
Slide 9: India: Robust RE growth so far but much more needed
India: Robust RE growth so far but much more needed to match the demand growth India power demand to grow with Massive power capacity needed to be added Peak demand of 388 GW by FY32 from 250 GW in FY25 Total Installed Power Capacity (GW) 961 Power Demand (TWh) 2,474 1,694 475 1,069 275 FY15 FY17 FY
Slide 10: India: Energy storage needed for integration of RE capacities in the grid
India: Energy storage needed for integration of RE capacities in the grid Demand Curve of Demand Curve of Demand Curve of maximum Demand maximum Demand maximum Demand Policy level interventions has enabled integration of solar Day in FY19 Day in FY22 Day in FY23 thereby shifting the evening peak to
Slide 11: AGEL: Leading India's Energy Transition
AGEL: Leading India’s Energy Transition India’s largest and fastest growing RE Portfolio Holding Structure Adani Family 14.2 GW 7.7% 2 Solar 60.9% Operating Capacity Ladakh J&K Wind Himachal 28.0 Bn units 2.7% Pradesh Solar-Wind Hybrid Generation (FY25) Punjab Uttarakhand Head Office & ENOC Haryana
Slide 12: AGEL: Deploying renewable energy at unprecedented scale and speed
AGEL: Deploying renewable energy at unprecedent scale and speed Robust RE Capacity Growth to continue Renewable Energy Capacity in GW Focused on delivering renewable Increased focus on merchant, CAGR 27% 50.0 C&I, CFD and mid-duration power and storage solutions hybrid opportunities + 1 GW 1 near co
Slide 13: AGEL: Growth & cash generation capability de-risked
AGEL: Growth & cash generation capability de-risked Operational Capacity & EBITDA from Power Supply EBITDA from Power Suppply (INR Cr.) 40% CAGR 14,243 15,000 Run-rate Operational Capacity (MW) 33% CAGR 10,934 EBITDA of 8,818 Rs. 12,676 Cr. 10,000 8,086 10,000 7,222 5,410 5,538 5,000 3,470 3,508 5,0
Slide 14: AGEL: Key Investment Highlights
AGEL: Key Investment Highlights ▪ Resource Availability: Strategic sites of 2,50,000 acres for solar and wind plant development and 5+ GW for PSP development backed by comprehensive geotechnical studies, fully prepared evacuation infrastructure, and meticulously crafted design work & resource analys
Slide 15: Adani Green Energy Limited: Business Strategy
03 Adani Green Energy Limited (AGEL): Business Strategy AGEL’s Dayapar Wind Cluster, Gujarat
Slide 16: 3a. Project Development Excellence
3a. Project Development Excellence
Slide 17: Expertise in Developing Mega Scale Renewable Energy Projects
Expertise in Developing Mega Scale Renewable Energy Projects − Then, the largest single location solar power plant 648 World’s largest MW − Executed within a record time of 8 months single location Solar project Module 330 Wp 3x MMS Fixed Tilt (99%) Tracker (1%) Kamuthi: Tamil Nadu (FY16) − India’s
Slide 18: Khavda: World's largest single-location Renewable Energy Project
Khavda: World’s largest single-location Renewable Energy Project Strategically located in Resource rich region of Gujarat A Renewable Energy Marvel in the Making ▪ All projects to be developed on contiguous land in Khavda Significant Scale Renewable Park Efficiencies ▪ Significant scale efficiencies
Slide 19: Energy storage development: Hydro Pumped Storage Projects
Energy storage development: Hydro Pumped Storage Projects Kicked off 1st Hydro PSP in Andhra Pradesh on Chitravathi river Development Pipeline across 5 states Uttar Pradesh Upper Reservoir Powerhouse Water Conducting System Maharashtra Telangana Existing lower reservoir Key Highlights Andhra Pradesh
Slide 20: 3b. Operational Excellence
adani Renewables 3b. Operational Excellence
Slide 21: AGEL: Operational Performance Metrics
AGEL: Operational Performance Metrics − Real time monitoring of operating assets across 12 states through Energy Network Operations Center at Ahmedabad − Granular performance insights − Predictive Maintenance optimizing Mean time between failure (MTBF) − Suggests corrective actions in real time redu
Slide 22: 3c. Growth with Disciplined Capital Management
3c. Growth with Disciplined Capital Management
Slide 23: AGEL: Capital management philosophy
AGEL: Capital management philosophy De-risking of underlying 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 Phase LCs & short-term funds t
Slide 24: AGEL: Continuously improving credit profile with deep rating coverage
AGEL: Continuously improving credit profile with deep rating coverage 1% Global Domestic 14% IG AAA - AA+ Rating Track 1% AA – AA- Record BB+ Apr March 47% A Category BB- 2025 6 2019 ~ 38% BBB+ - Below 99% years Nil rated above “AA-” 86% rated above “AA-” RR EBITDA INR 1,885 cr INR 12,676 cr 10 Year
Slide 25: AGEL: ESG Framework & Commitments
Adani Green Energy Limited (AGEL): 04 ESG Framework & Commitments AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan (bifacial modules with horizontal single axis trackers)
Slide 26: Assurance backed ESG framework
Assurance backed ESG framework Guiding principles India Business & IFC E&S United Nations UN Sustainable Green Bond SBTi Biodiversity Performance Global Compact Development Goals Principles Initiative (IBBI) Standards Guiding Policies principles Disclosure Standards TCFD TNFD GRI Standards CDP discl
Slide 27: AGEL: ESG updates
AGEL: ESG updates Focus area Material Topic Targets Key ESG Initiatives/Achievements UN SDGs Committed to avoid GHG emissions Climate Change Climate Change through development • 20.33 Mn tons CO2 emissions avoided in FY25 which is equal to 4.42 million cars off the of 50 GW RE road project by 2030 •
Slide 28: AGEL: Board of Directors and Management overview
AGEL: Board of Directors and Management overview 100% Chaired Chaired IDs by by NID Board of Directors IDs Statutory Committees Independent Directors Nominee Director 40% - Audit 🗹 Comprised of only - Nomination & Remunerations 🗹 Independent Directors - Stakeholder Relationship 🗹 100% of…
Slide 29: Annexures: AGEL Operational Performance
Annexures AGEL: Operational Performance
Slide 30: AGEL: Operational Performance
AGEL: Operational Performance Operational Capacity (MW AC – PPA capacity) CUF % (AC) Solar Wind Hybrid 14,243 Solar Wind Hybrid 2,140 40.7% 39.5% 10,934 35.5% 2,000 30.8% 29.4% 8,086 2,140 27.2% 26.7% 26.8% 23.8% 24.7% 25.2% 24.5% 24.8% 1,401 22.6% 22.5% 5,410 2,140 971 10,103 3,470 647 2,545 7,393
Slide 31: AGEL: Financial Performance
AGEL: Financial Performance Revenue from Power Supply EBITDA from Power Supply 1 9,495 8,818 7,735 7,222 5,809 5,538 3,783 3,530 2,065 2,419 1,859 2,207 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 EBITDA from Power Supply (%) Cash Profit 2 92% 92% 92% 92% 89% 91% 4,871 3,986 3,192 1,
Slide 32: Annexures: AGEL Asset Level Details
Annexures AGEL: Asset Level Details
Slide 33: Asset Level Details: Operational
Asset Level Details: Operational Contracted Capacity Capacity Counterparty PPA SPV Project Location Type Tariff COD/Operationalized (AC) (DC) Name Term Tamil Nadu Solar 216 260 7.01 Mar-16 TANGEDCO 25 Tamil Nadu Solar 72 86 7.01 Feb-16 TANGEDCO 25 AGE23L (Earstwhile Tamil Nadu Solar 72 86 7.01 Mar-1
Slide 34: Asset Level Details: Operational (contd.)
Asset Level Details: Operational (contd.) Contracted Capacity Capacity Counterparty PPA SPV Project Location Type Tariff COD/Operationalized (AC) (DC) Name Term AGE23L (Earstwhile PN Punjab Solar 20 21 8.7 Mar-21 PSPCL 25 Clean) 1 AGE23L (Earstwhile PN Punjab Solar 10 11 8.65 Feb-21 PSPCL 25 Renewab
Slide 35: Asset Level Details: Operational (contd.)
Asset Level Details: Operational (contd.) Contracted Capacity Capacity Counterparty PPA SPV Project Location Type Tariff COD/Operationalized (AC) (DC) Name Term ASEKANPL Karnataka Solar 200 300 2.82 19-Dec SECI 25 ASEAPSPL Andhra Pradesh Solar 350 455 4.63 Jul-17 NTPC 25 ASERJOPL Rajasthan Solar 300
Slide 36: Asset Level Details: Operational (contd.)
Asset Level Details: Operational (contd.) Contracted Capacity Capacity Counterparty PPA SPV Project Location Type Tariff COD/Operationalized (AC) (DC) Name Term AGE25AL Gujarat Solar 25 34 2.42 Feb-25 SECI 25 AGE25AL Gujarat Solar 12 17 2.42 Feb-25 SECI 25 AGE25AL Gujarat Solar 125 171 2.42 Feb-25 S
Slide 37: Asset Level Details: Operational (contd.)
Asset Level Details: Operational (contd.) Contracted SPV Project Location Type Capacity (DC) Tariff COD/ Capitalization Counterparty Name PPA Term Capacity (AC) 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
Slide 38: Asset Level Details: Operational (contd.)
Asset Level Details: Operational (contd.) Contracted Planned Capacity Planned Capacity SPV Project Location Type Tariff Counterparty Name PPA Term Capacity (AC) (AC) (DC) 390 Solar: 360 Solar: 540 AHEJOL Rajasthan Hybrid 2.69 SECI 25 Wind: 100 Wind: 100 AHEJTL 2 600 Solar: 600 Solar: 840 Rajasthan H
Slide 39: 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 40: Thank You
adani Renewables Thank You
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