Renew Energy Global Plc · NASDAQ:RNW
Renew Energy Global — ReNew Power — Debt Investor Presentation (July 2019)
22 slides from Renew Energy Global's debt investor presentation, July 2019
Slide 1: ReNew Power Limited High Yield Bond Investor Update - FY19
STRICTLY PRIVATE & CONFIDENTIAL ReNew Power Limited High Yield Bond Investor Update - FY19 July 2019
Slide 2: Disclaimer
STRICTLY PRIVATE & CONFIDENTIAL Disclaimer The information contained in this document is strictly private and confidential and has been provided for informational purposes only. This document and the information contained herein may not be disclosed, reproduced or used in whole or in part for any pu
Slide 3: Disclaimer
STRICTLY PRIVATE & CONFIDENTIAL Disclaimer Certain industry related data contained herein was obtained or derived from the report titled “CRISIL Research – Outlook on the Renewable Energy Market in India” dated Feb 2019, prepared by CRISIL Limited which includes the following disclaimer: “CRISIL Res
Slide 4: Table of Contents
STRICTLY PRIVATE & CONFIDENTIAL Table of Contents I.I Operational Update – ReNew II. II Operational & Financial Update – Restricted Groups III. III Financial Update – ReNew IV Management and Board 4
Slide 5: Operational Update- ReNew
STRICTLY PRIVATE & CONFIDENTIAL I Operational Update- ReNew
Slide 6: ReNew Snapshot
STRICTLY PRIVATE & CONFIDENTIAL ReNew Snapshot Equity Raised Till Date ($ mn3) Largest Renewable Well Diversified Energy IPP in India Portfolio $300mn Rights Issue Concluded 8.30 GW <25% GS Wyvern Asian Development Bank² ~$1.4 bn GEF SACEF India 100 Total Capacity Highest Capacity2 in a ADIA incl. 1
Slide 7: Snapshot of ReNew's Portfolio
STRICTLY PRIVATE & CONFIDENTIAL Snapshot of ReNew’s Portfolio Wind Operational Projects (3,075 MW) Wind Under Construction Projects (1,757MW) 2 114 Projects Solar Operational Projects (1,691 MW) 2 Rajasthan Solar Under Construction Projects (1,785 MW) 2 (1458 MW) Across 9 States 358MW Capacity Split
Slide 8: Market Standing- Continued Leadership
STRICTLY PRIVATE & CONFIDENTIAL Market Standing- Continued Leadership 8
Slide 9: Shareholding & Governance Update
STRICTLY PRIVATE & CONFIDENTIAL Shareholding & Governance Update Updated Shareholding Governance Update Mgmt $300mn CCPS Rights Issue closed & Emp Accessed international capital markets to raise $435mn in Mar-19 48.6 % 15.9% 9.1% 6.9% 16.2% 3.3% Have received $350mn sanction for debt financing
Slide 10: Key Attributes- Sustained Market Leading Position
STRICTLY PRIVATE & CONFIDENTIAL Key Attributes- Sustained Market Leading Position 1 2 3 4 Experienced Largest Indian Disciplined Project Financial Prudence Management Team Renewable Selection, Execution and Efficient Capital and Strong Board Energy IPP and Operations Management Governance #1 wind
Slide 11: Operational & Financial Update – Restricted Groups
STRICTLY PRIVATE & CONFIDENTIAL II Operational & Financial Update – Restricted Groups
Slide 12: Overview- Restricted Group I
STRICTLY PRIVATE & CONFIDENTIAL Overview- Restricted Group I Entire RG Capacity Commissioned Wind: 400.9 MW Capacity Wt. Avg. Solar: 205.0 MW Project Stake (MW) COD1 Total: 605.9 MW Andhra Pradesh AP Solar 51.0% 60.0 Mar-2016 Gujarat Ellutla 1 100.0% 44.1 Sep-2016 (25.2 MW) (4%) Ellutla 2 100.0% 44.
Slide 13: Designation- Restricted Group I
STRICTLY PRIVATE & CONFIDENTIAL Designation- Restricted Group I ReNew Saur Shakti Private Limited (“RG Designate”) was designated to the Restricted Group in March’19 Capacity & Location: 95 MW/114 MWp Solar Projects in Telangana Minpur Asset 65MW / 78MWp Overview CoD: Jul’ 17; Offtaker: TSSPDCL/
Slide 14: Financial Performance- Restricted Group I
STRICTLY PRIVATE & CONFIDENTIAL Financial Performance- Restricted Group I Continue to outperform Estimates… Total Income (US$mm) EBITDA² (US$mm) & Margin² 89% 86% 88% 90% 90% CAGR: 34% 115 97 100 CAGR: 35% 104 90 85 67 48 105 58 86 89 65 42 46 FY16 FY17 FY18 FY19 FY19 FY16 FY17 FY18 FY19 FY19 (pre d
Slide 15: Overview- Restricted Group II
STRICTLY PRIVATE & CONFIDENTIAL Overview- Restricted Group II Entire RG Capacity Commissioned Wind: 281.7 MW Solar: 354 MW Capacity Wt. Avg. Total: 635.7 MW Project Stake (MW) COD1 Rajasthan (161 MW) (25%) Karnataka 161 MW Ittigi 100.0% 50.0 Jan-2017 Raichur 100.0% 50.0 May-2017 Wadgera 100.0% 20.0
Slide 16: Financial Performance- Restricted Group II
STRICTLY PRIVATE & CONFIDENTIAL Financial Performance- Restricted Group II Adjusted Income² (US$mm) Adjusted EBITDA² (US$mm) & Margin 87% 87% 88% 86% CAGR: 113% 95 CAGR: 113% 82 59 52 91 77 31 27 56 10 8 28 9 FY16 FY17 FY18 FY19 FY16 FY17 FY18 FY19 One Time Operating Revenue¹ Other Income¹ Adjusted
Slide 17: Project Wise Performance of the Restricted Group I & II
STRICTLY PRIVATE & CONFIDENTIAL Project Wise Performance of the Restricted Group I & II Capacity PLF Capacity PLF Project (MW) (%) Project (MW) (%) Mar-19 FY18 FY19 Mar-19 FY19 Andhra Pradesh Karnataka AP Solar 60.0 18.0% 17.8% Ittigi 50.0 18.9% Ellutla 1, 2 & 3 119.7 24.7% 29.6% Raichur 50.0 18.3%
Slide 18: Financial Update- ReNew
STRICTLY PRIVATE & CONFIDENTIAL III Financial Update- ReNew
Slide 19: Consolidated Financial Performance of ReNew
STRICTLY PRIVATE & CONFIDENTIAL Consolidated Financial Performance of ReNew Total Revenue (US$mm) EBITDA² (US$mm) & Margin² CAGR: 77% 684 88% 85% 83% 83% 87% CAGR: 77% 594 500 397 ReNew 413 397 658 330 222 ReNew + 329 123 376 Ostro 187 + 206 103 108 Ostro 111 84 FY16 FY17 FY18 Proforma FY19 FY18 FY1
Slide 20: ReNew Power's growth path till date
STRICTLY PRIVATE & CONFIDENTIAL ReNew Power’s growth path till date Strong track record of organic and inorganic growth having nearly doubled the operational capacity in each fiscal from FY16-18, driven by strong execution capability and funded by prudent and timely capital raises through high quali
Slide 21: In Summary…
STRICTLY PRIVATE & CONFIDENTIAL In Summary… ReNew is a unique and rapidly growing infrastructure player with high standards of corporate governance ReNew is the largest Indian renewable energy IPP that is well positioned to sustain its leadership position and enjoy the benefits of scale ReNew’s su
Slide 22: Thank You
STRICTLY PRIVATE & CONFIDENTIAL Thank You