Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Investor Presentation (May 2024)
42 slides from Adani Green Energy's investor presentation, May 2024
Slide 1: Adani Green Energy Limited Equity Investor Presentation
1 Adani Green Energy Limited Equity Investor Presentation May 2024 Photo: AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan
Slide 2: Table of Contents
Table of Contents 1 Adani Portfolio – Overview 2 India – Renewable Opportunity & AGEL – Company Profile 3 AGEL – Business Strategy 3a Origination and Development Readiness 3b Operational Excellence 3c Capital Management Philosophy 4 AGEL – ESG Framework & Commitments 5 AGEL – Investment Rationale An
Slide 3: Adani Portfolio
adani Renewables O17 Adani Portfolio
Slide 4: 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 & Incubator Energy & Utility Transport & Logistics Direct to consumer Mining (72.6%) (56.4%) (73.2%) (65.9%) (100%) (66.7%) AGEL AESL APSE
Slide 5: 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 70% 1,2 EBITDA 92% 1,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL ATGL Adani’s Core Infra. Platfo
Slide 6: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Center of Excellence Project Management & Assurance Group (AIIL) AIMSL1 Policy -Strategy - Risk Origination Site Development Construction Operation Capital Mgmt Activity • Ana
Slide 7: 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 Development & Geotechnical studies ~2,00,000 acres ~40 GW potential Construction 85+ Wind data locations & Special studies (AIIL) Resource rich sites in strateg
Slide 8: India: Renewable Growth Opportunity & AGEL: Company Profile
02 India: Renewable Growth Opportunity & Adani Green Energy Limited (AGEL): Company Profile Photo: AGEL’s Solar plant at Anjar, Gujarat
Slide 9: Massive push for Growth of Renewable Energy in India
Massive push for Growth of Renewable Energy in India Enablers for Renewable Energy Installed Capacity (GW) • Nation’s commitment to reaching 500 GW non-fossil power capacity 777** by 2030 Govt • Supporting regulations in form of ISTS Waiver, Green Open Access, commitment RPO/RGO, Hydro & storage pus
Slide 10: AGEL – Leading India's Energy Transition
AGEL – Leading India’s Energy Transition Well secured resource rich sites for Growth Strategy – 2030 capacity addition up to 2030 50.0 GW+ Targeted Resource Mix - 2030 5% CAGR – 29% 11% Solar Solar, Wind & 13% Hybrid Wind Development CAGR – 41% In Gujarat & 10.9 GW Hybrid Rajasthan 2.0 GW Hydro PSP
Slide 11: AGEL – India's largest renewable player and world's 2nd largest solar PV developer
AGEL – India’s largest renewable player and world’s 2nd largest solar PV developer 1 Strategically located in 12 Resource rich states 2 4.6x Targeted Growth by 2030 Renewable Capacity (in MW) 10% of Solar 50,000 India’s RE Ladakh Target Wind J&K 10,934 MW – Operational 4.6x Himachal Pradesh 11,019 M
Slide 12: AGEL – Holding Structure & Key Portfolio Highlights
AGEL – Holding Structure & Key Portfolio Highlights Adani Family 56.4% 7.0% 1 2.7% 1.4% 19.7% 12.8% Other Public Shareholders Locked-in portfolio: 21,953 MW AGEL - TotalEnergies 50:50 JV – 3,403 MW AGEL (100% Owned) – 18,550 MW AGE23L ARE9L Total – 1,050 MW Operational Under Execution 2,353 MW Opera
Slide 13: AGEL – Growth & Cash Generation Capability De-risked
AGEL – Growth & Cash Generation Capability De-risked Operational Capacity & EBITDA from Power Supply EBITDA from Power Suppply (INR Cr.) 43% CAGR 10,934 Run-rate EBITDA of Operational Capacity (MW) 8,086 Rs. 10,462 Cr. 34% CAGR 7,222 5,410 5,538 3,470 2,545 3,508 1,918 1,970 2,207 834 1,710 1,859 FY
Slide 14: Adani Green Energy Limited: Business Strategy
03 Adani Green Energy Limited (AGEL): Business Strategy Photo: AGEL’s Dayapar Wind Cluster, Gujarat
Slide 15: 3a. Origination and Development Readiness
3a. Origination and Development Readiness
Slide 16: Construction Ready Strategic Sites with High Resource Potential
Construction Ready Strategic Sites with High Resource Potential Identified high resource potential sites of ~2,00,000 acres in Rajasthan and Gujarat ~2,00,000 Acres Of Land Connectivity granted for entire Rajasthan and Gujarat Clusters Predominantly Owned By portfolio For planned growth projects con
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: Energy storage development – Hydro Pumped Storage Projects
Energy storage development – Hydro Pumped Storage Projects Kicked off 1st Hydro PSP in Andhra Pradesh on Chitravathi river Development Pipeline across 4 states Upper Reservoir Powerhouse Water Conducting System Maharashtra Telangana Existing lower reservoir Key Highlights Andhra Pradesh • Installed
Slide 19: Project Management, Execution and Assurance through Adani Infra India Limited
Project Management, Execution and Assurance through Adani Infra India Limited Project Management, Execution and Assurance Project execution, Geotechnical, site suitability Engineering, design & Commissioning, monitoring, quality studies & advance resource sourcing management testing & handover manag
Slide 20: Expertise in Developing Mega Scale Renewable Energy Projects
Expertise in Developing Mega Scale Renewable Energy Projects − Then, the largest single location solar power plant 648 World’s largest MW − Executed within a record time of 8 months single location Solar project Module 330 Wp 3x MMS Fixed Tilt (99%) Tracker (1%) Kamuthi: Tamil Nadu (FY16) − India’s
Slide 21: 3b. Operational Excellence
adani Renewables 3b. Operational Excellence
Slide 22: Operational Excellence through Energy Network Operation Center (ENOC)
Operational Excellence through Energy Network Operation Center (ENOC) − Real time monitoring of operating assets across 12 states through ENOC at Ahmedabad − Granular performance insights − Predictive Maintenance optimizing Mean time between failure (MTBF) − Suggests corrective actions in real time
Slide 23: 3c. Capital Management Philosophy
3c. Capital Management Philosophy
Slide 24: Replicating Adani Business Model: Capital Management Philosophy
Replicating Adani Business Model: Capital Management Philosophy De-risking of SPVs to generate and release surplus cashflows for AGEL Mgmt. throughout Project lifecycle De-risking integrated in Capital Project Financing Stabilization HoldCo. Financing Post-Stabilization Phase SPV level Phase LCs & s
Slide 25: ESG Framework & Commitments
Adani Green Energy Limited (AGEL): 04 ESG Framework & Commitments Photo: AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan (bifacial modules with horizontal single axis trackers)
Slide 26: 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 27: Substantial Avoidance of CO2 Emissions
Substantial Avoidance of CO2 Emissions CO2 Emissions avoided (mn ton) Key ESG Targets FY25 Indicator Status: FY24 80.0* Target Top 10 in RE sector by Sustainalytics/ Ranking in ESG benchmarking of Top 10 1st in RE Sector in Asia and amongst Top 5 electric utility sector in the world in RE Sector glo
Slide 28: ESG Ratings, Awards and Recognition
ESG Ratings, Awards and Recognition ESG Commitments ESG Ratings AGEL’s Rating CSRHub (Consensus ESG Rating) Ranking of 96 percentile, with consistent ranking above Alternative Energy industry average ISS ESG Prime Band (B+), Ranked 1st in RE Sector in Asia and Top 5 Globally ESG Risk Rating of ‘Low
Slide 29: Investment Rationale
05 Investment Rationale Photo: AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan
Slide 30: Key Investment Highlights
Key Investment Highlights – Resource Availability: Strategic sites with generation potential of ~40 GW backed by comprehensive geotechnical studies, fully prepared evacuation infrastructure, and meticulously crafted design work & resource analysis. Developmental & – Project Management, Execution and
Slide 31: Annexures: AGEL Operational & Financial Performance
Annexures AGEL: Operational & Financial Performance
Slide 32: AGEL: Operational Performance
AGEL: Operational Performance Operational Capacity (MW AC – PPA capacity) CUF % (AC) Solar Wind Hybrid 10,934 Solar Wind Hybrid 40.7% 8,086 2,140 35.5% 1,401 30.8% 29.4% 26.7% 26.8% 5,410 2,140 24.7% 25.2% 22.6% 23.8% 24.5% 22.5% 647 971 3,470 2,545 7,393 497 397 4,763 4,975 2,148 2,973 FY20 FY21 FY
Slide 33: AGEL: Financial Performance
AGEL: Financial Performance Revenue from Power Supply EBITDA from Power Supply 1 7,735 7,222 5,809 5,538 3,783 3,530 2,065 2,419 1,859 2,207 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 EBITDA from Power Supply (%) Cash Profit 2 92% 92% 92% 89% 91% 3,986 3,192 1,854 1,250 529 FY20 FY21 FY22 FY2
Slide 34: Annexures: AGEL Asset Level Details
Annexures AGEL: Asset Level Details
Slide 35: 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 36: 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 37: 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 38: 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 39: Asset Level Details – Under Execution
Asset Level Details – Under Execution Contracted Capacity Capacity Counterparty PPA SPV Project Location Type Tariff (AC) (DC) Name Term Various SPVs Rajasthan Solar+ Mfg 1,000 1,370 2.42 SECI 25 Various SPVs Gujarat Solar+ Mfg 1,275 1,747 2.42 SECI 25 Various SPVs Gujarat Solar+ Mfg 567 777 2.42 SE
Slide 40: Asset Level Details – Under Execution (contd.)
Asset Level Details – Under Execution (contd.) Contracted Capacity Planned Capacity Planned Capacity Counterparty PPA SPV Project Location Type Tariff (AC) (AC) (DC) Name Term 600 Solar: 570 Solar: 855 AHEJFL Gujarat Hybrid 2.41 SECI 25 Wind: 200 Wind: 200 Total Hybrid 600 770 1,055 2.41 11,019 15,2
Slide 41: 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 42: Thank You
adani Renewables Thank You
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