Renew Energy Global Plc · NASDAQ:RNW
Renew Energy Global — H1 FY22 Earnings Presentation
31 slides from Renew Energy Global's earnings presentation, Nov 18, 2021
Slide 1: H1 & Q2 FY 22 Earnings Review
H1 & Q2 FY 22 Earnings Review Nov 18, 2021 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by ReNew Energy Global, the markets in which ReNew Energy Global operates and ReNew Energy Global
Slide 3: Agenda
Agenda 01 ReNew Overview 02 H1 FY 22 & Q2 FY 22 Highlights 03 Guidance 04 Sustainability And ESG 05 Appendix 3
Slide 4: ReNew Overview
01 ReNew Overview 4
Slide 5: Highly Diversified Portfolio Of Contracted Assets
Highly Diversified Portfolio Of Contracted Assets ReNew’s Regionally Diversified Utility Portfolio(1) Largest Operating Portfolio In India(1) Commissioned, 7.0 GW, 68% Committed (2) 99 MW 3.3 GW, 3,058 MW 32% 100 MW 1,399 MW 578 MW Balanced Asset Mix(1) 799 MW Hydro, 0.1 GW, 1% 820 MW Solar – 5.0 GW
Slide 6: Strong Growth Through Organic And Inorganic Opportunities
Strong Growth Through Organic And Inorganic Opportunities Installed Capacity (In GW) 7 GWs operating today, • Aspirational goal of 18 GWs by FY 25; No 1.2 up from 6.3 GWs on new external equity needed for 18 GW Sept 30, 2021 2.1 18.0 goal(3) 10.3 • PPAs signed for 2.1 GWs of the 3.3 GWs of 7.0 commi
Slide 7: Significant Opportunity In One Of The Fastest Growing Markets
Significant Opportunity In One Of The Fastest Growing Markets; ReNew Taking Leading Role In Developing Them Total Addressable Market Of ~ $200 – 270 Bn $15-20 Corporate PPAs Bn Bid Market(2) • RE provide significant savings against grid prices; corporates focused on ESG and going “green” • Target of
Slide 8: Presence In All Market Segments Provides Multiple Avenues Of Growth
Presence In All Market Segments Provides Multiple Avenues Of Growth Along With Access To Higher Return Opportunities Plain Vanilla Renewable Intelligent Energy M&A Corporate PPAs Energy (RE) Solutions GWs Currently 6 - 7 GW 5 – 9 GW(1) 6 - 8 GW NA For Auction No. Of ~15 - 20 3-4 5-6 5-6 Competitors
Slide 9: H1 FY 22 & Q2 FY 22 Highlights
02 H1 FY 22 & Q2 FY 22 Highlights 9
Slide 10: Q2 FY 22 And H1 FY 22 Overview
Q2 FY 22 And H1 FY 22 Overview Key Highlights Key metrics (INR Mn) 38,119 Total Portfolio • Total Portfolio (commissioned and committed) of 10,217MW),(1) an increase of 257 MW (after adjusting for 31,902 asset monetization) 30,261 • 6,315 MWs Commissioned Capacity and 3,902 MWs of Committed Capacity
Slide 11: $470 Mn Of Weather Adjusted EBITDA in H1 FY 22
$470 Mn Of Weather Adjusted EBITDA in H1 FY 22 H1 FY 22 Adjusted H1 FY 22 Adjustments H1 FY 22 Million (INR) (USD) (INR) (USD) (INR) (USD) Comments Revenue from contracts with customers 32,507 438 2,966 40 35,473 478 $40 Mn of negative weather impact Other operating income 1,575 21 1,575 21 Finance
Slide 12: FY 22 Capacity Additions On Track
FY 22 Capacity Additions On Track Quarterly Additions of Installed Capacity 8.2 GW Additional Projects / acquisitions 0.5 GW 7.7 GWs 7.7 GWs 7.4 GWs 6.3 GWs 5.6 GWs 5.7 GWs FY 21 Q1 FY 22 Q2 FY 22 Q3 FY22 Q4 FY22 FY 22 Acquisition Telangana Solar (260 MW)(1) SECI VI Wind Acquisition Hydro SECI III S
Slide 13: Receivables Situation Expected To Improve Meaningfully
Receivables Situation Expected To Improve Meaningfully Proactive Measures For Expediting GOI Also Prioritizing Overall Macro Environment & Collections Clearing Discom Dues Improving Power Demand Active receivable management Recently invoked tripartite agreement Accounts Receivables and continuous di
Slide 14: Guidance
03 Guidance 14
Slide 15: Strong Growth Profile Which Is Fully Equity Funded
Strong Growth Profile Which Is Fully Equity Funded Net Debt(1) & Leverage(2) At Operating Capacity Run Rate Adjusted EBITDA Of 6.3 GWs And 10.3 GWs 7000 6 INR 422 - 438 Bn 6000 ($5,700 - $5,900 Mn) INR 84 – 90 Bn ($1,126 - $1,216 Mn) 5000 5.5 INR 60 - 65 Bn INR 263 Bn INR 55 - 60 Bn ($805 - $870 Mn)
Slide 16: Sustainability And ESG
weexecececes AA TEES EAE ARE AS SEE ee
Slide 17: ReNew Is Leading The Energy Transition In India
ReNew Is Leading The Energy Transition In India And Is Committed To Global Sustainable Development Goals Our ESG Initiatives Partnerships With Environment Social ReNew avoids carbon ReNew continued its strong safety emissions 200 times its Scope performance with zero fatality incidents 1 & 2 emissio
Slide 18: Impacting Communities With Sustainability Initiatives
Impacting Communities With Sustainability Initiatives ReNew Women India Initiative (ReWIN) Lighting Lives – Electrification Of Schools Community-Based Water Management ReNew Scholarship For Exceptional Talent (ReSET) 18 Source: Company Information
Slide 19: Appendix
05 Appendix 19
Slide 20: $267 Mn Weather Adjusted EBITDA in Q2 FY 22
$267 Mn Weather Adjusted EBITDA in Q2 FY 22 Q2 FY 22 Adjusted Q2 FY 22 Adjustments Q2 FY 22 Million (INR) (USD) (INR) (USD) (INR) (USD) Comments Revenue from contracts with customers 16,990 229 1,632 22 18,622 251 $22 mn of negative weather impact Other operating income 1,550 21 1,550 21 Finance inc
Slide 21: Counterparty Overview And Asset Breakdown
Counterparty Overview And Asset Breakdown Total Portfolio Total 10.3 GW Technology Solar 5.0 GW Hydro 0.1 GW Wind 5.2 GW Commissioned Committed Commissioned Commissioned Committed Project Stage 3.2 GW 1.8 GW 0.1 GW 3.7 GW 1.5 GW Centre State 3rd Party Centre PPA Counterparty State 2.6 GW 3rd Party 2
Slide 22: Operating Performance And Seasonality
Operating Performance And Seasonality As of and for the year ended 31 March 2019 2020 2021(6) H1 FY 22 Wind Solar(4) Wind Solar(4) Wind Solar(4) Wind Solar(4) Commissioned capacity (GW) 2.95 1.61 3.24 2.18 3.59 2.01 3.7 2.6 Weighted average operational 2.80 1.30 3.11 1.88 3.31 2.16 3.6 2.2 capacity(
Slide 23: Track Record Of Efficient Capital Raise From Diverse Sources Of Funding
Track Record Of Efficient Capital Raise From Diverse Sources Of Funding Outstanding Funding (30th September 2021) (1) Raised US$3bn+ In Bond Offerings Through 7 USD Bond Offerings At Competitive Rates Reduction in cost of debt 6.67% 1.71% Working Capital 6.45% Loan 6.00% INR Bonds 3.3% 6.6% 5.88% (2
Slide 24: Debt Profile
Debt Profile Corporate debt By Debt Type 10% By Interest Rate Variable Rate 28% Project debt Fixed Rate 90% 72% 1 year By Currency(1) By Maturity 17% US Dollars 48% (fully > 5 years INR hedged) 39% 52% 1 to 5 years 44% Interest cost(2) as on 30th September 2021 is ~ 9.68% Note: Debt doesn’t include
Slide 25: Project Level Details
Project Level Details Project Capacity (MW) Location CoD(8) Tariff (INR/kWh)(1) Offtaker(2) PPA Tenure at CoD Utility Scale Wind Energy Commissioned Projects (3,718 MW) 23.1MW: APPC Rate + escalation linked to State APPC tariff; 2.1MW: GUVNL (23.1), 23.1 MW: 25 years; Jasdan 25.2 Gujarat Mar-12 INR
Slide 26: Project Level Details
Project Level Details Project Capacity (MW) Location CoD(8) Tariff (INR/kWh)(1) Offtaker(2) PPA Tenure at CoD Utility Scale Wind Energy Commissioned Projects (3,718 MW) Bhesada 100.8 Rajasthan Dec-15 5.88(3a) JDVVNL 25 Nipaniya 40.0 Madhya Pradesh Feb-16 5.92 MPPMCL 25 Kod and Limbwas 90.3 Madhya Pr
Slide 27: Project Level Details
Project Level Details Project Capacity (MW) Location CoD(8) Tariff (INR/kWh)(1) Offtaker(2) PPA Tenure at CoD Utility Scale Wind Energy Commissioned Projects (3,718 MW) Bapuram 50.0 Karnataka Mar-18 3.74+Tax Pass-through to offtakers(6) GESCOM 25 (6) Nirlooti 60.0 Karnataka Mar-18 3.74+Tax Pass-thro
Slide 28: Project Level Details
Project Level Details Project Capacity (MW) Location CoD(8) Tariff (INR/kWh)(1) Offtaker(2) PPA Tenure at CoD Utility scale Solar Energy Commissioned Projects (3,106 MW) Mandamarri 48.0 Telangana Feb-17 5.59 TSNPDCL 25 Alland 20.0 Karnataka Mar-17 4.86 BESCOM 25 Bhalki 20.0 Karnataka Mar-17 4.85 BES
Slide 29: Project Level Details
Project Level Details Project Capacity (MW) Location CoD(8) Tariff (INR/kWh)(1) Offtaker(2) PPA Tenure at CoD Utility scale Solar Energy Commissioned Projects (3,106 MW) Mah Ph I 250.0 Rajasthan Oct-19 2.72 MSEDCL 25 MESCOM, BESCOM, Karnataka 140 140.0 Karnataka Oct-19 3.22 25 GESCOM, CESC SECI Raj
Slide 30: Project Level Details
Project Level Details Project Type Capacity (MW) Location CoD(8) Tariff (INR/kWh)(1) Offtaker(2) PPA Tenure at CoD Utility Scale Firm Power Committed Projects (1703 MW) Wind 322.0 PP-I (7) Karnataka PPA Awaited Off Peak - 2.88; Peak - 6.85 SECI 25 Solar 81.0 Wind 600.0 Karnataka 2.9 for year 1 with
Slide 31: Thank You
Thank You For further inquiries please contact IR@renewpower.in 31