Adani Energy Solutions Ltd · NSE:ADANIENSOL
Adani Energy Solutions — Non-Deal Roadshow (July 2024)
13 slides from Adani Energy Solutions's roadshow presentation, July 2024
Slide 1: Adani Energy Solutions Limited Investor Presentation June - July 2024
Adani Energy Solutions Limited (Formerly known as Adani Transmission Limited) Investor Presentation June - July 2024
Slide 2: Legal Disclaimer
Legal Disclaimer The information contained in this presentation is provided by Adani Energy Solutions Limited (formerly known as Adani Transmission Limited) (together with its subsidiaries, the “Company” or “AESL”) to you solely for your reference and for information purposes only. By accessing this
Slide 3: Adani Energy Solutions Limited (AESL)
Adani Energy Solutions Limited (“AESL”) ► Largest private sector transmission and distribution company in India, with a Segmental EBITDA (US$m) AESL Shareholding Structure presence across 16 states in India Public Float, 20% ► Cumulative transmission network of c.21,182 ckm / c.57,011 MVA transmissi
Slide 4: Key Investment Highlights
Key Investment Highlights 1 Strong Underlying Market Fundamentals ► Huge T&D capacity additions necessary to connect additional generating capacity and balance increased renewables penetration, as kWh / capita of planet’s most populous nation tracks higher 7 Experienced Management Team ► Management
Slide 5: Macro Background: Strong Underlying Fundamentals Driving Demand for T&D Infrastructure
1 Macro Background: Strong Underlying Fundamentals Driving Demand for T&D Infrastructure Huge Growth in Power Demand Renewables Accelerating Requirements Increasing Private Sector Participation Generation p.a. (TWh) Installed Renewables Capacity (GW) TBCB Transmission Project Awards, as of 2020 (%)
Slide 6: Macro Background: AESL Already Captured 20% Share in Smart Metering Rollout
1 Macro Background: AESL Already Captured 20% Share in US$ 26 bn Smart Metering Rollout Development stage of national Smart Meter Tenders (no.) 250 ► Huge rollout targeted as a part of RDSS (Revamped million smart meters Distribution Sector Scheme) to improve billing efficiency and sector collection
Slide 7: Regulatory Backdrop: Mature Framework with >20 years of Demonstrated Stability
2 Regulatory Backdrop: Mature Framework with >20 years of Demonstrated Stability Regime is governed underpinned by statute, with regulated return that has remained stable for over two decades Allowed Equity Return by The Central Electricity Regulatory Commission (CERC) and The Maharashtra Electricit
Slide 8: India's Largest Private Sector Power Transmission & Distribution Company
3 India’s Largest Private Sector Power Transmission & Distribution Company Portfolio Transmission Line Length, Private Sector (‘000 ckms) 21.20 15.15 #1 MUL Largest market share in the (85 sq km) private transmission sector in India 3.53 2.17 0.35 >32 16 ~21,182 ~57,011 16 ckt km MVA years years Sta
Slide 9: Platform Positioned for Continued Growth
4 Platform Positioned for Continued Growth Huge National Buildout in T&D Capacity In-House, End-to-End Capabilities Demonstrated Ability to Capture Growth Transmission Bidding Stage Project Development EBITDA (US$m)(2) Planned India Transmission Capacity 2,093 1,618 Project Execution Project Close O
Slide 10: Operational Excellence Driving Outperformance
5 Operational Excellence Driving Outperformance Availability-based payments translates operational excellence into maximum visibility on revenue visibility Operations routinely exceed required revenue and incentive benchmarks on a runrate basis Availability Performance vs Benchmarks, by Regulator (%
Slide 11: Robust Investment Grade-Rated Capital Structure
6 Robust Investment Grade-Rated Capital Structure Simplified Security Structure International – ATSOL Obligor Group (Transmission business) (Reg S/ 144A) Rating Agency Facility Rating/Outlook Fitch Dollar Bond BBB-/Stable Moody’s Dollar Bond Baa3/Stable International – AESL USPP (Transmission busine
Slide 12: Experienced Management Team, Sponsored by India's #1 Infra Promoter
7 Experienced Management Team, Sponsored by India’s #1 Infra Promoter Strong Sponsorship Managing Director Independent Directors National Footprint with Deep Coverage FY24 EBITDA (USDm)(2) 1,642 2,064 1,062 140 Mr. Gautam S. Mr. Rajesh S. Mr. Anil Sardana Mr. K. Jairaj Dr. Ravindra H. Mrs. Meera Ms.
Slide 13: AESL: Benchmarking
AESL: Benchmarking AESL demonstrates relative growth outperformance and higher risk-adjusted returns compared to its peers Pure Play T&D Peers Integrated Utilities Peer Group Geography India UK Italy Spain Portugal Austria USA Growth Opportunity(1) 2021 onwards: nominal RAB on pre-tax, real Regulate
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