Jaiprakash Power Ventures Limited · NSE:JPPOWER
Jaiprakash Power Ventures — Investor Presentation (January 2010)
40 slides from Jaiprakash Power Ventures's investor presentation, January 2010
Slide 1: Jaiprakash Power Ventures Limited Investor Presentation
CONFIDENTIAL Jaiprakash Power Ventures Limited Investor Presentation JANUARY 2010 1
Slide 2: Disclaimer
CONFIDENTIAL Disclaimer This presentation is strictly confidential and may not be copied, published, distributed or transmitted in whole or in part, by any medium or in any form for any purpose. The information in this presentation is being provided by the Jaiprakash Power Ventures Limited (the “Com
Slide 3: Overview of Jaypee Group
CONFIDENTIAL Overview of Jaypee Group 3
Slide 4: Corporate Structure
CONFIDENTIAL Corporate Structure Jaiprakash Associates Limited (JAL) E&C Cement – 29.25 MTPA Real Estate & Hospitality BOO Power Cement Infrastructure 76.3% Jaiprakash Power Ventures Limited (JPVL) Jaypee Infratech Limited Cement JVs 99.1% 300 MW Baspa – II HEP (In Operation) (Yamuna Expwy) (6.3 MTP
Slide 5: Demonstrated Execution Capability of JAL
CONFIDENTIAL Demonstrated Execution Capability of JAL – Completed HEPs Generating 8840 MW between 2002-2009 JAL is the leader in the construction of multi-purpose river valley and hydropower projects and has been involved in construction of major engineering projects over the last 4 decades Baghalih
Slide 6: Indian Power Sector
CONFIDENTIAL Indian Power Sector 6
Slide 7: Capacity addition has underachieved the targets
CONFIDENTIAL Capacity addition has underachieved the targets Capacity Addition Targets and Achievements Growth Lower than GDP Growth 45 (1,000MW) 120% 12% Installed Capacity Growth (%) 40 96% 100% GDP Growth (%) 9.0% 35 85% 10% 82% 54% 30 72% 80% 8.1% 57% 8% 7.1% 64% 64% 25 52% 48% 60% 6% 50% 20 4.0
Slide 8: Shortage of Power in India
CONFIDENTIAL Shortage of Power in India Low per capita consumption of Electric energy Electricity demand and supply (KWhr per capita) 800 Energy Requirement Energy Available 774 739 8,795 691 689 700 632 666 Billion Units 591 600 559 624 546 523 579 2,701 2,043 2,227 548 1,841 1,684 500 519 618 478
Slide 9: Indian Power Sector: Driving significant investments
CONFIDENTIAL Indian Power Sector: Driving significant investments Long-term outlook Installed capacity (GW) required, at 8% GDP growth 11th plan 778 Capacity addition = 78,700MW 575 425 306 220 2012 2017 2022 2027 2032 Source: Government of India Integrated Energy Policy, Report of the Expert Commit
Slide 10: Indian Power Sector – Merchant Power potential
CONFIDENTIAL Indian Power Sector – Merchant Power potential Trend Towards Rise in Traded Volumes & Tariffs Increasing Volumes of Power Traded1… …Coupled with Rising Merchant Power Prices2 (mm units) (Rs/kwh) 7.31 24,154 20,965 4.51 4.52 15,023 14,188 11,847 3.23 11,029 2.32 FY04 FY05 FY06 FY07 FY08
Slide 11: Increasing Role of Private Sector
CONFIDENTIAL Increasing Role of Private Sector Jaypee Group Hydro – 1,000 MW contribution JPVL contribution Thermal – 500 MW during 11th plan period- 2,200 MW* 3,491 11,552 90,000 80,000 Public 70,000 Hydro – 700 MW 15,043 Capacity Addition (MW) 60,000 Private 50,000 700 A Actual 40,000 HYDRO 86 63,
Slide 12: JPVL’s Business Overview
CONFIDENTIAL JPVL’s Business Overview 12
Slide 13: JHPL & erstwhile JPVL Merger
CONFIDENTIAL JHPL & erstwhile JPVL Merger Pre-Amalgamation Post-Amalgamation Jaiprakash Associates Ltd. Jaiprakash Associates Ltd. 76.3% 63.3% 80.6% Jaiprakash Hydro- Jaiprakash Power Ventures Jaiprakash Power Ventures Ltd. Power Ltd. (JHPL) Ltd. (JPVL) Baspa II – 300 MW Baspa II – 300 MW Vishnupray
Slide 14: Portfolio of 13,470 MW of Power Projects
CONFIDENTIAL Portfolio of 13,470 MW of Power Projects 14
Slide 15: Projects At A Glance
CONFIDENTIAL Projects At A Glance Merchant Capacity Regulated VERs/ S.N. Project Fuel Power COD (MW) Tariff (MW) CERs (MW) 1. Baspa-II Hydro 300 300 - 1.00 Mn VERs 2003 2. Vishnuprayag Hydro 400 400 - 1.32 Mn.VERs 2006 3. Karcham Wangtoo Hydro 1,000 800@ 200 3.35 Mn. CERs* 2011* 4. Bina Power Therma
Slide 16: Power Capacity in Operation/ Under Advanced Stages of Implementation
CONFIDENTIAL Power Capacity in Operation/ Under Advanced Stages of Implementation S.N. Project Location Capacity (MW) Fuel Financial Closure Current Capacity 1. Baspa-II H.P. 300 Hydro (Operational) 2. Vishnuprayag U.K. 400 Hydro (Operational) Cumulative Total 700 By October 2011 3. Karcham Wang
Slide 17: Stages of Power Assets
CONFIDENTIAL Stages of Power Assets STAGE 9 O&M Baspa, Vishnuprayag STAGE 8 Commissioning STAGE 7 Erection, Testing Karcham Wangtoo STAGE 6 Construction Bina , Nigrie, Bara STAGE 5 Project Funding Karchana, Lower Siang STAGE 4 Design & Engineering STAGE 3 Environment Clearance STAGE 2 Detailed Proje
Slide 18: Optimal Hydro – Thermal Mix
CONFIDENTIAL Optimal Hydro – Thermal Mix Power capacity addition (MW) Largest Private Sector Hydro Power 16,000 generator in the country 14,000 13,470 Hydro projects are glacier fed and not 11,550 12,000 dependent on monsoons – generating 9,070 substantial secondary energy 10,000 7,570 Strong growth
Slide 19: Optimal Off-take Arrangements
CONFIDENTIAL Optimal Off-take Arrangements Merchant vs. PPA Merchant Power 70% 64% 61% Units (MU)* 82% 78% 100% 2012 2,104 2013 4,297 36% 39% 30% 22% 2014 9,916 18% 2015 11,201 2009 2012 2013 2014 2017 2019 PPA Merchant Optimal off-take arrangements to ensure balance between steady locked-in cash fl
Slide 20: Quality Equipment from Reputed Manufacturers
CONFIDENTIAL Quality Equipment from Reputed Manufacturers S.No Name of Item Country of Origin/Company Baspa-II Hydro 1. Turbine and Generating System VA Tech (Austria), Voith (Germany) 2. GIS Alstom (France) Vishnuprayag Hydro 1. Turbine and Generating System Alstom (France) 2. GIS Alstom (France) K
Slide 21: Power Business – Summary of Project Status: Hydro
CONFIDENTIAL Power Business – Summary of Project Status: Hydro Project Land Water Environment DPR/EPC Fuel PPA Equity Clearance Order Investments till date (Rs mn) Baspa II – 300 4,910 MW PROJECT IN OPERATION Vishnuprayag 5,090 – 400MW PROJECT IN OPERATION Karcham 11,250 Wangtoo – 20% 1000 MW
Slide 22: Power Business – Summary of Project Status: Thermal
CONFIDENTIAL Power Business – Summary of Project Status: Thermal Project Land Water Environment DPR/EPC Fuel PPA Equity Clearance Order as of 'Dec Investments 09 till Date (Rs mn) Bina Power – GoMP-42% 2,991 40 % 1250 MW Merchant GoMP – 5,790 Nigrie 92% 37.5% Thermal – Acquired(1) 50% 1320
Slide 23: Summary
CONFIDENTIAL Summary 23
Slide 24: Hydro Projects Delivering Sustained Returns
CONFIDENTIAL Hydro Projects Delivering Sustained Returns Rs mn (US$ mn) Particulars JHPL Erstwhile JPVL JPVL (post merger) FY 2009 FY 2009 9 mth FY2010 Revenue 3,179 (68) 4,187 (89) 5,334 (113) EBIDTA 2,945 (63) 3,790 (81) 4,833 (103) PAT 1,429 (30) 1,865 (40) 1,854 (39) Dividend Declared 15% 20% -
Slide 25: Selected financial information
CONFIDENTIAL Selected financial information Balance Sheet Rs mn (US$ mn) Particulars JHPL Erstwhile JPVL JPVL (post merger) FY 2009 FY 2009 9 mth FY2010 Networth 10,752 (229) 10,883 (232) 33,384 (710) Secured & Unsecured Debt 9,113 (194) 11,449 (244) 39,104 (832) Net Fixed Assets (including 18,360 (
Slide 26: Integrated Solution Provider to Control Key Aspects of Project Execution
CONFIDENTIAL Integrated Solution Provider to Control Key Aspects of Project Execution JAL has the unique ability to undertake the most challenging projects successfully given its abilities as the only Integrated Solution Provider for Hydropower Projects in the country Expected to derive substantia
Slide 27: Appendix 2: Project Details
CONFIDENTIAL Appendix 2: Project Details 27
Slide 28: Baspa-II HEP - 3x100 MW
CONFIDENTIAL Baspa-II HEP - 3x100 MW Project Detail Description Location & size 300 MW Hydro Power Project in Himachal Pradesh Concession Period 40 + 20 Years Total project cost Rs. 1,667 Crores Means of finance Debt – Rs. 1,089 Crores Equity – Rs. 491 Crores Internal Accruals – Rs. 87 Crores Curren
Slide 29: Vishnuprayag HEP - 4x100 MW
CONFIDENTIAL Vishnuprayag HEP - 4x100 MW Project Detail Description Location & size 400 MW Hydro Power Project in Uttrakhand Concession Period 30 + 20 Years Total project cost Rs. 1,694 Crores Means of finance Debt – Rs. 1,185 Crores Equity – Rs. 509 Crores Current status In operation since Oct 2006
Slide 30: Karcham Wangtoo HEP - 4x250 MW
CONFIDENTIAL Karcham Wangtoo HEP - 4x250 MW Project Detail Description Location & size 1,000 MW Hydro Power project in Himachal Pradesh Concession Period 35+20 Years Total project cost Rs. 7,150 Crores Means of finance Debt – Rs. 5,005 Crores Equity – Rs. 2,145 Crores Equity holding JAL – 43.13% JPV
Slide 31: Jaypee Powergrid Limited - 217 KM Power Transmission Project
CONFIDENTIAL Jaypee Powergrid Limited - 217 KM Power Transmission Project Project Detail Description Location & size 217 km transmission project to evacuate power from 1,000 MW Karcham-Wangtoo project Concession Period Owned Total project cost Rs. 1,000 Crores Means of finance Debt – Rs. 700 Crores
Slide 32: Bina TPP – 1,250 MW
CONFIDENTIAL Bina TPP – 1,250 MW Project Detail Description Location & size 1250 MW (In 2 phases) Thermal Power Plant in Dist. Bina in Madhya Pradesh, Phase-I consisting of 2x250 MW Concession Period Owned Total project cost Rs. 2,754 Crores for Phase – I Means of finance Debt – Rs. 1,928 Crores (Ph
Slide 33: Nigrie TPP - 2X660 MW
CONFIDENTIAL Nigrie TPP - 2X660 MW Project Detail Description Location & size 1320 MW super critical technology boiler, pit head based Thermal Power Plant at Dist Sidhi in Madhya Pradesh Coal Blocks Coal from Mines at Amelia (North) & Dongri Tal-II Total project cost Rs. 8,100 Crores Means of financ
Slide 34: Karchana TPP – 3x660 MW
CONFIDENTIAL Karchana TPP – 3x660 MW Project Detail Description Location & size 1,980 MW (in 2 Phases) super critical technology boiler based Project in Karchana, Allahabad, Uttar Pradesh; Phase-I consisting of 2x660 MW Concession Period Owned Total project cost Rs. 7,600 Crores for Phase - I * Mean
Slide 35: Bara TPP – 5x660 MW
CONFIDENTIAL Bara TPP – 5x660 MW Project Detail Description Location & size 3,300 MW (in 2 Phases) super critical technology boiler based Project in Bara, Allahabad, Uttar Pradesh; Phase-I consisting of 3x660 MW Concession Period Owned Total project cost Rs. 11,500 Crores for Phase - I * Means of fi
Slide 36: Lower Siang HEP - 2,700 MW
CONFIDENTIAL Lower Siang HEP - 2,700 MW Project Detail Description Location & size 2,700 MW Hydro Power project in Arunachal Pradesh Concession Period 40 Years Expected Equity holding JPVL - 89% Government of Arunachal Pradesh - 11% Expected commissioning Expected commissioning by 2017* Offtake arra
Slide 37: Hirong HEP- 500 MW
CONFIDENTIAL Hirong HEP- 500 MW Project Detail Description Location & size 500 MW Hydro Power project in Arunachal Pradesh Lease Period 40 Years Expected Equity holding JPVL – 89% Government of Arunachal Pradesh - 11% Expected commissioning Expected commissioning by 2018 Offtake arrangement Free Pow
Slide 38: Kynshi Stage – II HEP - 450 MW
CONFIDENTIAL Kynshi Stage – II HEP - 450 MW Project Detail Description Location & size 450 MW Hydro Power project in Meghalaya Concession Period 40 Years Expected Equity holding JPVL – 74% Government of Meghalaya - 26% Expected commissioning Expected commissioning by 2019 Offtake arrangement Free Po
Slide 39: Umngot Stage – I HEP - 270 MW
CONFIDENTIAL Umngot Stage – I HEP - 270 MW Project Detail Description Location & size 270 MW Hydro Power project in Meghalaya Concession Period 40 Years Expected Equity holding JPVL – 74% Government of Meghalaya - 26% Expected commissioning Expected commissioning by 2019 Offtake arrangement Free Pow
Slide 40: THANK YOU
CONFIDENTIAL THANK YOU 40
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