Renew Energy Global Plc · NASDAQ:RNW
Renew Energy Global — ReNew Power — Debt Investor Presentation (July 2018)
24 slides from Renew Energy Global's debt investor presentation, July 2018
Slide 1: ReNew Power Limited High Yield Bond Investor Update - FY18
STRICTLY PRIVATE & CONFIDENTIAL ReNew Power Limited High Yield Bond Investor Update - FY18 July 2018
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 May 2018, 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 Group 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 ($ mn4) Largest Renewable Well Diversified Energy IPP in India Portfolio ~$1.13bn GS Wyvern Asian Development Bank² GEF SACEF India 5.85 GW <28% ADIA 247 247 Total Capacity JERA incl. 1.25 GW from Highest Capacity2 in a Sumant Si
Slide 7: Snapshot of ReNew's Portfolio
STRICTLY PRIVATE & CONFIDENTIAL Snapshot of ReNew’s Portfolio Rajasthan 96 Projects (438 MW) Across 8 States Wind Operational Projects (2,637 MW) 298MW Wind Under Construction Projects (1,039 MW) 90 MW Solar Operational Projects (1,284 MW) 2 Secured Over Solar Under Construction Projects (629 MW) 2
Slide 8: Market Standing- Continued Leadership
STRICTLY PRIVATE & CONFIDENTIAL Market Standing- Continued Leadership ReNew’s capacity has grown faster than overall Indian renewable energy industry over FY11-FY18 and ReNew has a leading position in wind as well as solar power Leading Wind and Solar Player in India Total Capacity in GW Total Wind
Slide 9: Shareholding & Governance Update
STRICTLY PRIVATE & CONFIDENTIAL Shareholding & Governance Update Updated Shareholding Governance Update Mgmt CPPIB acquired ADB’s entire stake in January 2018 for USD 144 & Emp Million, in addition to USD 247 Million of primary investment Change of name from ReNew Power Ventures Private Limited
Slide 10: M&A Update
STRICTLY PRIVATE & CONFIDENTIAL M&A Update Prudent evaluation of proprietary acquisitions based on targeted returns, operational scale, diversification and availability at reasonable valuations Key Acquisitions Concluded Acquisitions Pipeline1 In Mar-2018, ReNew acquired Ostro Energy for an equity
Slide 11: 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 12: Operational & Financial Update – Restricted Group
STRICTLY PRIVATE & CONFIDENTIAL II Operational & Financial Update – Restricted Group
Slide 13: Update on the RG: Projects Commissioned on Target
STRICTLY PRIVATE & CONFIDENTIAL Update on the RG: Projects Commissioned on Target Entire RG Capacity Commissioned Capacity Wt. Avg. Gujarat Madhya Pradesh Project Stake (MW) COD1 (25.2 MW) (5%) (78.8 MW) (16%) Andhra Pradesh 25.2 MW 36 MW AP Solar 51.0% 60.0 Mar-2016 50.0 MW Ellutla 1 100.0% 44.1 Se
Slide 14: Financial Performance of the Restricted Group
STRICTLY PRIVATE & CONFIDENTIAL Financial Performance of the Restricted Group Total Income (US$mm) EBITDA² (US$mm) & Margin² 91% 89% 86% 88% CAGR: 52% 104 CAGR: 51% 91 73 62 51 46 93 29 70 27 50 29 FY15 FY16 FY17 FY18 FY15 FY16 FY17 FY18 Operating Revenue¹ Other Income¹ EBITDA² Margin Total Assets (
Slide 15: Project Wise Performance of the Restricted Group
STRICTLY PRIVATE & CONFIDENTIAL Project Wise Performance of the Restricted Group Capacity PLF Total Income EBITDA EBITDA Project (MW) (%) (US$mm) (US$mm) Margin (%) Mar-18 FY17 FY18 FY17 FY18 FY17 FY18 FY17 FY18 Andhra Pradesh AP Solar 60.0 18.2% 18.0% 10.9 11.6 9.3 10.4 85% 89% Ellutla 1, 2 & 3 119
Slide 16: Restricted Group – Receivables Update
STRICTLY PRIVATE & CONFIDENTIAL Restricted Group – Receivables Update Days Sales Outstanding (DSO) is 2.6 Months Receivables Position as on March 31, 2018 (INR Million) Receivables Ageing as on March 31, 2018 Total Project Overdue Not Due Receivables DSO (INR Million) 565 Andhra Pradesh (AP) 437 129
Slide 17: Financial Update- ReNew
STRICTLY PRIVATE & CONFIDENTIAL III Financial Update- ReNew
Slide 18: Consolidated Financial Performance of ReNew
STRICTLY PRIVATE & CONFIDENTIAL Consolidated Financial Performance of ReNew Total Revenue (US$mm) EBITDA² (US$mm) & Margin² 539 79% 88% 85% 83% 83% CAGR: 74% 428 445 ReNew CAGR: 76% 355 428 ReNew 239 + 355 405 Ostro 202 + 132 111 222 116 Ostro 82 65 119 90 72 FY15 FY16 FY17 FY18 Proforma FY18 FY15 F
Slide 19: Capacity Addition
STRICTLY PRIVATE & CONFIDENTIAL Capacity Addition Operational capacity nearly doubling in each of the last three fiscal years, driven by strong project execution, organic and inorganic growth funded by prudent and timely capital raise Operational Capacity Growth: FY13-FY18 CAGR: 96% Indian Renewable
Slide 20: 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 21: Management & Board
STRICTLY PRIVATE & CONFIDENTIAL IV Management & Board
Slide 22: Experienced Management Team ...
STRICTLY PRIVATE & CONFIDENTIAL Experienced Management Team ... Senior Management Personnel Ravi Seth Parag Sharma Balram Mehta Ravi Parmeshwar CFO COO, Head of Solar President, Wind Business Chief HR Officer Sumant Sinha Has over 29 years of Business Has over 25 years of Has over 22 years of
Slide 23: … Supported by a Board With Significant Domain Knowledge
STRICTLY PRIVATE & CONFIDENTIAL … Supported by a Board With Significant Domain Knowledge Board of Directors Sumant Sinha Ankur Ambika Sahu Wendy Alexandra Franks Chairman & Managing Director Non-executive Director Non-executive Director Previously worked with Suzlon (COO), Co-head of the merchan
Slide 24: Thank You
STRICTLY PRIVATE & CONFIDENTIAL Thank You