Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Q1 FY25 Earnings Presentation
35 slides from Adani Green Energy's earnings presentation, Jul 25, 2024
Slide 1: Submission of Presentation on Operational & Financial highlights
Date: July 25, 2024 To BSE Limited The National Stock Exchange of India Limited P J Towers, “Exchange Plaza”, Dalal Street, Bandra – Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 541450 Scrip Code: ADANIGREEN Dear Madam / Sir, Sub: Submission of Presentation on Operational
Slide 2: Earnings Presentation – Q1 FY25 Consolidated Financials
Adani Green Energy Limited Earnings Presentation – Q1 FY25 Consolidated Financials Photo: AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan
Slide 3: Table of Contents
Table of Contents 1 Adani Portfolio 2 AGEL: Company Profile 3 AGEL: Operational & Financial Highlights 4 AGEL: ESG 5 AGEL: Investment Rationale Annexures 2
Slide 4: Financial Performance at a glance - Q1 FY25 (YoY)
Financial Performance at a glance - Q1 FY25 (YoY) Consistent robust financial performance Revenue EBITDA EBITDA margin Cash Profit Rs. 2,528 Cr Rs. 2,374 Cr 92.6% Rs. 1,390 Cr Industry-leading 24% 23% EBITDA margin 32% Photo: AGEL’s Renewable Energy Plant in Khavda, Gujarat
Slide 5: Adani Portfolio
Growth With Goodness adani adani Renewables OT Adani Portfolio
Slide 6: 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%) (74.72%) (100%) (50.00%) (100%) (100%) ANIL Ad
Slide 7: 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 4x 6 EBITDA 71% 1,2 EBITDA 92% 1,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL Adani’s Core Infra. Platform –
Slide 8: Adani Portfolio – Repeatable, robust & proven transformative model of investment
Adani Portfolio – Repeatable, robust & proven transformative model of investment DEVELOPMENT OPERATIONS CONSUMERS 1 New C.E.O. Adani Infra (India) Limited (AIIL) Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Construction Operation Inspired Purpose & Value
Slide 9: 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 ~2,50,000 acres of resource rich Geotechnical studies Development sites for renewable in strategic locations 50+ GW potential & Special studies (AIIL) Resource
Slide 10: Adani Green Energy Limited (AGEL): Company Profile
02 Adani Green Energy Limited (AGEL): Company Profile Photo: AGEL’s Solar plant at Anjar, Gujarat
Slide 11: AGEL – Committed to a sustainable future
AGEL – Committed to a sustainable future Holding Structure ESG Ratings RE Sector Ranking 2 Rating Agency Rating/Score Adani Family Global India Score of 4.2 / 5 57.5% Constituent of 3 1 FTSE4Good Index ESG Risk Rating of 14.3 Top 10 2 Score of 77.33 / 100 Top 5 1 19.7% 11.7% Other Public Rated ‘A-’
Slide 12: AGEL – Leading India's Energy Transition
AGEL – Leading India’s Energy Transition Focused on delivering Increased focus on C&I and Fully funded growth with renewable power and Merchant opportunities to disciplined capital storage solutions maximize value creation management Developing renewable Driving operational Setting new benchmarks in
Slide 13: AGEL – Renewable energy portfolio evolution up to 2030
AGEL – Renewable energy portfolio evolution up to 2030 Today 1 2030 11% 19% 5% 100% Must-run Portfolio 13% 15% 11.2 GW Resource Mix 50 GW 25-Year Fixed tariff PPAs 66% 71% to contribute majority of the portfolio Solar Wind Hybrid Solar Wind Hybrid PSP Attractive tariffs in merchant and C&I 6% 15% St
Slide 14: Operational & Financial highlights
03 Adani Green Energy Limited (AGEL): Operational & Financial highlights Photo: AGEL’s Dayapar Wind Cluster, Gujarat
Slide 15: AGEL: Executive Summary – Q1 FY25
AGEL: Executive Summary – Q1 FY25 Capacity Addition & Operational Performance ✓ Operational capacity increases by 31% YoY to 10.9 GW with massive greenfield addition of 2.6 GW ✓ Operationalized wind power capacity of 250 MW at Khavda deploying India’s largest 5.2 MW wind turbine generator in July 20
Slide 16: AGEL: Operational Capacity Addition & Sale of Energy – Q1 FY25 YoY
AGEL: Operational Capacity Addition & Sale of Energy – Q1 FY25 YoY Operational Capacity (in MW AC) Hybrid 10,934 Wind 31% 2,140 8,316 Solar 1,401 2,140 1201 ✓ Operational Capacity increases by 31% to 10,934 7,393 MW with greenfield addition of 2,618 MW 4,975 – Operationalized 2,418 MW Solar power pl
Slide 17: 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 Significant Scale Khavda Renewable Park Khavda Efficiencies ✓ Significant scale effi
Slide 18: Growth in generation and PPA commitment v/s actuals
Growth in generation and PPA commitment v/s actuals Steady growth in generation with increasing proportion of value accretive Merchant Power Generation in Mn units 1 21,878 19,222 347 778 4,344 154 10,791 1,365 20,753 7,356 5,498 130 14,724 4,388 17 1,159 75 9,296 434 4,388 5,406 5,763 FY20 FY21 FY2
Slide 19: 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 20: AGEL: Financial Performance – Q1 FY25 YoY
AGEL: Financial Performance – Q1 FY25 YoY (All figures in Rs. Crore) Revenue from Power Supply EBITDA from Power Supply 1 2,528 2,374 2,045 1,938 24% 23% ✓ The robust growth in revenue, EBITDA and cash profit is primarily driven by capacity addition of 2,618 MW over the last one year Q1 FY24 Q1 FY25
Slide 21: Bridge of EBITDA from Power Supply – Q1 FY24 to Q1 FY25
Bridge of EBITDA from Power Supply – Q1 FY24 to Q1 FY25 (All figures in Rs. Crore) EBITDA up by 23% YoY backed by improved revenue performance 1. Change in Revenue also includes change in Carbon Credit Income & Prompt payment discount. 20
Slide 22: ESG Framework & Commitments
Adani Green Energy Limited (AGEL): 04 ESG Framework & Commitments ISS ESG has ranked AGEL FTSE Russell has ranked AGEL CDP rates AGEL 1st in Asia & in Top 5 3rd in Alternative ‘A-’ – topmost globally in RE Sector Electricity segment category in its ESG rating assessment With percentile rank of 93 in
Slide 23: 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 24: Substantial Avoidance of CO2 Emissions
Substantial Avoidance of CO2 Emissions CO2 Emissions avoided (mn ton) Key ESG Targets Indicator Target Status 80.0* Top 10 in RE sector by Sustainalytics/ Ranking in ESG benchmarking of Top 10 by 1st in RE Sector in Asia and amongst Top 5 electric utility sector in the world FY25 in RE Sector global
Slide 25: Investment Rationale
05 Investment Rationale Photo: AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan
Slide 26: Key Investment Highlights
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 Development & crafted design work & resourc
Slide 27: Annexures: AGEL: Receivables Details
Annexures AGEL: Receivables Details
Slide 28: AGEL: Receivables Ageing Profile
AGEL: Receivables Ageing Profile (in Rs. Cr) Due 30-June-24 Not Due Off Takers 30-June-24 0-60 days 61-90 days 91-120 days 121-180 days >180 days Total TANGEDCO 192 61 2 - - - 63 NTPC 82 - - - - - - SECI 284 - - - - - - KREDL 97 - - - - - - TSSPDCL 23 12 - - - 18 30 Others 261 4 24 - - 32 60 Total 9
Slide 29: Annexures: AGEL: Asset Level Details
Annexures AGEL: Asset Level Details
Slide 30: Asset Level Details – Operational
Asset Level Details – Operational Contracted Capacity Capacity COD/ Counterparty PPA SPV` Project Location Type Tariff Capitalizati (AC) (DC) on Name Term Tamil Nadu (AGETNL) Solar 216 260 7.01 Mar-16 TANGEDCO 25 Tamil Nadu (RSPL) Solar 72 86 7.01 Feb-16 TANGEDCO 25 AGETNL Tamil Nadu (KREL) Solar 72
Slide 31: Asset Level Details – Operational (contd.)
Asset Level Details – Operational (contd.) Contracted Capacity Capacity COD/ Counterparty PPA SPV Project Location Type Tariff (AC) (DC) Capitalization Name Term PNCEL Punjab Solar 20 21 8.7 Mar-21 PSPCL 25 PNREL Punjab Solar 10 10.5 8.65 Feb-21 PSPCL 25 KNSSEPL Karnataka Solar 5 6.3 4.36 Oct-21 GES
Slide 32: Asset Level Details – Operational (contd.)
Asset Level Details – Operational (contd.) Contracted Capacity Capacity COD/ Counterparty PPA SPV Project Location Type Tariff (AC) (DC) Capitalization Name Term ASEKANPL Karnataka Solar 200 300 2.82 Dec-19 SECI 25 ASEAPSPL Andhra Pradesh Solar 350 455 4.63 Jul-17 NTPC 25 ASERJOPL Rajasthan Solar 30
Slide 33: Asset Level Details – Operational (contd.)
Asset Level Details – Operational (contd.) Contracted Capacity Capacity COD/ Counterparty PPA SPV Project Location Type Tariff Capitaliza (AC) (DC) Name Term tion 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.
Slide 34: 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 35: Thank You
adani Renewables Thank You