Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Investor Presentation (May 2021)
39 slides from Adani Green Energy's investor presentation, May 2021
Slide 1: Equity Presentation May 2021
Renewables Adani Green Energy Limited EQUITY PRESENTATION May 2021 1
Slide 2: Contents
CONTENTS 1 Adani Group 2 AGEL: Company Profile 3 AGEL: Transformational Advantage 4 AGEL: ESG 5 Investment Rationale Appendix
Slide 3: Adani Group
Adani Group Renewables 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 63.7% 100% 75% 56% 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 Network (ckm) CGD7 (GAs8 covered) 12% 118% 45% 20% 3x 5x 3x 1.5x 30% 4% 7% 25% Industry Adani APSEZ Adani Industry AGEL Industry ATL Industry AGL 2014 9
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
Slide 7: AGEL: Replicating Group's Transformational Growth Profile
AGEL : Replicating Group’s Transformational Growth Profile Secure Sites & Connectivity Resource Assessment Construction Readiness Development 200,000 acres 85+ Wind Geotechnical studies Resource rich Sites in strategic locations with data locations and detailed design planning, ~31 GW potential Sola
Slide 8: Adani Green Energy Limited: Company Profile
Adani Green Energy Limited Company Profile Renewables 8
Slide 9: AGEL: Transformational Renewable Company
AGEL: Transformational Renewable Company Largest Listed 3,520 MW – Operational Over 30 GW sites identified & Renewable Site Plan Company in India + 2,270 MW – execution in 12 months under acquisition Near Tender 4,500 MW - Emerged L1 bidder 1 Construction 9,050 MW Pipeline ~ 9,000 MW - Upcoming tend
Slide 10: AGEL: Large, Geographically Diversified Portfolio
AGEL: Large, Geographically Diversified Portfolio 14,840 MW Portfolio 1 | 3,520 MW operational Average AGEL tariff below APPC 2 APPC @ 3.85/kWh 4 Operational Awarded & Under Implementation Wind Solar 3.27 Solar-Wind Hybrid 2.0 2.4 2.5 3.2 2.3 2.2 2.7 130 Apr'17 Dec'17 Jan'18 Aug'18 Jun'20 Dec'20 Mar
Slide 11: AGEL: Transformational Advantage
AGEL: Transformational Advantage 11
Slide 12: Development and de-risking philosophy
AGEL: Development and de-risking philosophy Resource Assessment Land Identification Design Optimisation Relentless focus on Origination 85+ Wind locations 2,00,000+ acres land design optimization to drive assessed identified across India Cost Efficiency Land Acquisition Statutory Approvals Transmiss
Slide 13: Readiness for next phase of growth: ~15 GW site at Khavda, Gujarat
AGEL – Readiness for next phase of growth: ~15 GW site at Khavda, Gujarat State Site area 2.7x of Paris City Over 3 years of on site resource Resource Assessment estimated Solar potential map - Gujarat 70,000 acres of land Land Acquisition allotted by Govt. Construction Geotech studies and logistics
Slide 14: Operational Excellence driving Value
AGEL: Operational Excellence driving Value Traditional Approach AGEL’s 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 s
Slide 15: Value Creation through Transformative Investment Philosophy
AGEL: Value Creation through Transformative Investment Philosophy FY 17 FY 21 Capacity (MW) 748 MW CAGR of 47% 3,470 MW 1 Capital Employed3 INR 50 bn CAGR of 37% INR 178 bn Run-rate EBITDA4 INR 8 bn CAGR of 40% INR 31 bn EBITDA Return on Consistent ~ 17% ~ 16% Capital Employed Investment Grade Credi
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
Slide 17: AGEL: ESG
AGEL: ESG Renewables 17
Slide 18: AGEL: ESG Strategy Framework
AGEL : ESG Strategy Framework Purpose Decarbonizing the Nation’s Growth Goal To be in Top-10 Companies of the World, in ESG Benchmarking of Electric Utilities, by 2022 Strategic Pillars Corporate Citizenship & Responsible Business Role in Global Climate Action Enabling Social Transformation Practice
Slide 19: 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 • Supporting low carbon Economy • Caring and protecting biodiversity Reuse) for Waste management Climate • 648 MW s
Slide 20: Role in Global Climate Action - Key Initiatives
AGEL: Role in Global Climate Action - Key Initiatives Fast-paced Renewable Capacity addition leading Design Optimization leading to efficiency in land usage to a greener future Operational capacity (MW AC) 25,000 Target capacity (MW AC) Land use in Acres/MW 5.0 3.2 3,470 1,958 1,970 2,545 372 808 FY
Slide 21: Case Study: Water Resource Conservation Initiatives
AGEL: Role in Global Climate Action - Case Study: Water Resource Conservation Initiatives Pioneer in adoption of latest technologies 648 MW Solar Plant at Kamuthi, Tamilnadu for module cleaning purposes becomes Water Positive New ground water Estimated water Water saved in recharge reservoir consump
Slide 22: Enabling Social Transformation
AGEL: Enabling Social Transformation Social Initiatives through Adani Foundation 1 : Core Areas AGEL: Local Community Engagement Education Social welfare Need based customized programs for the programs local community Community Health Education & Support provided to local schools to promote Sports e
Slide 23: 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 E
Slide 24: A Compelling Investment Case
AGEL: A Compelling Investment Case Renewables 24
Slide 25: A Compelling Investment Case
AGEL: A Compelling Investment Case Project Development Excellence O&M Excellence ✓ De-risked project pipeline through Advance resource ✓ Analytics driven O&M through Energy Network Operation estimation, design & supply chain planning Center (ENOC) ensures consistent Solar Plant availability of ~ 100
Slide 26: Appendix: Operational & Financial Highlights
Appendix Adani Green Energy Limited Operational & Financial Highlights
Slide 27: Historical Operational Performance - Consolidated
AGEL: Historical Operational Performance - Consolidated Capacity (MW AC) CUF % (AC) 497 26.7% 26.8% 72 397 22.4% 21.2% 22.6% 22.5% 2,973 1,898 2,148 FY19 FY20 FY21 FY19 FY20 FY21 Solar Wind Solar Wind Plant Availability Volume (MUs) & Average Realization (Rs/kwh) 99.6% 98.9% 99.5% 95.1% 6000 4.25 10
Slide 28: Historical Financial Performance - Consolidated
AGEL: Historical Financial Performance - Consolidated Particulars FY21 FY20 FY19 Total Income 3,520 2,629 2,131 Revenue from Power Supply 2,419 2,065 1,913 Total EBITDA 1 2,632 1,862 1,598 EBITDA from Power Supply 2 2,207 1,859 1,723 EBITDA from Power Supply (%) 91% 89% 90% PAT 182 (68) (475) Cash P
Slide 29: AGEL Debt Summary as on 31-Mar-21
AGEL Debt Summary as on 31-Mar-21 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 Rs 18,885 Cr (Mar’21) Gross Debt Credits of INR Vs. 13,943 Cr (Mar’20) 2,476 cr 8,329, Average interest rate 10.1% 10,556, 15,3
Slide 30: Receivables Ageing Profile
AGEL: Receivables Ageing Profile (in INR Cr) Not Due Due 31-Mar-21 31-Mar-21 Off Takers 0-60 days 61-90 days 91-120 days 121-180 days >180 days Total Due TANGEDCO 170 87 54 48 103 291 579 NTPC 72 - - - - - - SECI 81 - - - - - - KREDL 76 14 5 4 6 40 68 TSSPDCL 26 18 10 8 17 0 53 Others 120 1 1 1 4 8
Slide 31: Appendix: Project Details
Appendix Adani Green Energy Limited Project Details
Slide 32: 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 5.76 Mar-16 T
Slide 33: 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) ASEJTL Rajasthan Solar 50 74 Merchant 20-Nov NA NA GSBPL Gujarat Solar 100 150 2.44 Dec-20 GUVNL 25 AWETNL UP Sola
Slide 34: Asset Level Details - Under Execution & Near Construction
Asset Level Details – Under Execution & Near Construction Solar Wind Projects Hybrid Under-Execution Assets SPV Project Name / Location Type Contracted Capacity (AC) Capacity (DC) Tariff Counterparty Name PPA Term AWEGJL - SECI 5 Gujarat Wind 300 300 2.76 SECI 25 AGE THREE LTD Gujarat Wind 150 150 2
Slide 35: Appendix: Regulatory Landscape
Appendix Adani Green Energy Limited Regulatory Landscape
Slide 36: Operating in a robust and tested regulatory framework over 20 years
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 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 Thank You
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