Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Investor Presentation (August 2018)
29 slides from Adani Green Energy's investor presentation, August 2018
Slide 1: Adani Green Energy Limited Investor Presentation August 2018
ADANI GREEN ENERGY LIMITED Investor Presentation August 2018
Slide 2: Confidentiality and Disclaimer
Confidentiality and 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 growt
Slide 3: Adani Group Overview
ly ADANI GROUP OVERVIEW
Slide 4: Adani Group – Leading infrastructure conglomerate
Adani Group – Leading infrastructure conglomerate with large presence in Resources, Logistics and Energy sector ~US$25bn 23,200+ ~US$16bn ~US$ 22.0 bn Asset base1 Human Capital2 Revenues1 Market Capitalization3 Largest private player in India’s energy space with over 3 decades of experience Thermal
Slide 5: Repeatedly demonstrated strong execution and operational expertise
Repeatedly demonstrated strong execution and operational expertise Deep know-how of Regulatory landscape Geographic Spread – Well established ability to handle land relationship across acquisition across energy ecosystem multiple cities & states Timely execution of large complex assets Competitive p
Slide 6: Adani Green Energy Limited (AGEL) – At a glance
Adani Green Energy Limited (AGEL) – At a glance ~13,400cr Total Asset base 86% 11 100% Ownership of Number of states Contracted with ~Rs.9,540cr Adani promoters present in 25 years PPA Market Cap ^ Solar projects Wind projects Under- Operational implementation 60 MW 300 MW 6% 14% 2,198 MW Under- 997
Slide 7: Industry Overview
Industry Overview
Slide 8: Renewables – Significant Untapped Potential
Renewables – Significant Untapped Potential India has significant headroom for power consumption growth Renewables’ overall share in power capacity remains low Nuclear, 2.0% Per capita power consumption 2015(KWh) Hydro, 13.3% US: ~12x India 12,001 China: ~4x India Renewable, World: ~3x India 19.2% 6
Slide 9: Solar Power - Low resource risk and offtake risk
Solar Power - Low resource risk and offtake risk Solar generation is most predictable Lower variability between P90-P50 The Solar India ideal for commercializing solar Advantage Among the highest irradiations globally Proximity to Population, consumption 0.8 Solar Generation curve matche
Slide 10: Significant focus on Renewables, Declining Capital Costs Support Tariffs
Significant focus on Renewables, Declining Capital Costs Support Tariffs Large potential to further drive renewable capacity growth 175 GW Target of 2x share of electricity by Mar-22 Wind Solar Other renewables 15 Strong Pipeline: Plans to bid out ~9 GW in FY19 100 57 GW Utility scale solar ex
Slide 11: Adani Green Energy Limited (AGEL) Business Overview
Adani Green Energy Limited (AGEL) Business Overview
Slide 12: AGEL – Investment Highlights
AGEL – Investment Highlights Largest Utility Scale Solar Power player in India – 1 Strong track record of capacity addition Pan India Renewable Energy Player with healthy mix 2 across Wind and Solar with focus on returns Well diversified off-takers - 56% of the portfolio 3 contracted with investment
Slide 13: Largest Utility Scale Solar Power player in India
Largest Utility Scale Solar Power player in India Strong track record of capacity addition AGEL on track to achieve ~3.2GW capacity by 2020 ~0.3GW ~0.8GW ~2GW ~2.2GW ~3.2GW ~2x Successfully handled development Capacity (MW) of plants at more than 30 sites simultaneously 997 India’s largest single ax
Slide 14: Pan India Renewable Energy Player with well diversified portfolio
Pan India Renewable Energy Player with well diversified portfolio Overview of Wind and Solar capacity (MW) Capacity Split by Type (MW) Punjab Wind 100 Uttar Pradesh 997 50 50 Rajasthan 250 20 Solar Gujarat Madhya Pradesh 2,198 937 48 12 Total Capacity 3,195 MW Chhattisgarh 100 Well Diversified Off-t
Slide 15: Robust operational expertise and project execution capabilities
Robust operational expertise and project execution capabilities Identifying strategic land near substation to reduce cost of transmission line Land Acquisition Leverage group experience and capabilities for land acquisition & permissions Strong In-house design team with vast project execution
Slide 16: Robust operational expertise and project execution capabilities
Robust operational expertise and project execution capabilities Remote Operations & Nerve Cluster Project Centre (RONC) HQ monitoring of Performance Cluster based Each site Monitoring Analysis, Data Analytics and SME’s operating model to typically has a Strategy ensure support and site head
Slide 17: AGEL – Differentiated Quality and Return Focus
AGEL – Differentiated Quality and Return Focus Bidding Design Sourcing Execution O&M Solar Plant design & Real time Site selection irradiation sourcing monitoring Value SolarGIS Sites with strong Efficient plant engineering database irradiation design and yield approach Reduce Proximit
Slide 18: Focus on sustainable performance - Punjab MW project
Focus on sustainable performance - Punjab 100 MW project GTI % GTI Actual 101.6 Solar GIS P50 achievement Solar irradiation (kWh/m2/year) 1,935 (kWh/m2/year) 1,965 (actual/target) % Stable Capacity Utilisation Factor (“CUF”) Grid availability Plant availability P75 99.9% P75 99.9% Site Target Target
Slide 19: Strong sponsor & professional management with strong execution track-record
Strong sponsor & professional management with strong execution track-record Sponsorship Gautam Adani Rajesh Adani Founder & Chairman Founder & Director Adani Group Adani Group AGEL – Access to Group Capabilities Capital - Strong sponsor (promoter) support Long standing relationship with the proc
Slide 20: Operational and Financial Performance
Operational and Financial Performance
Slide 21: Robust Operating performance
Robust Operating performance Average Capacity (MW AC) CUF (%) [AC Basis] 1744 29.81% 21.14% 22.35% 21.68% 18.55% 18.25% 858 648 648 668 19.69% 16.36% 13.87% 13.53% 58 58 58 58 58 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Solar Wind Solar Wind Plant Availability (%) Volume
Slide 22: Resilient Financial Performance
Resilient Financial Performance Revenue (Rs Crs) EBIDTA (Rs Crs) & Margin (%) 800 95% 93% 700 868 90% 600 671 87% 500 85% 400 502 439 472 300 403 80% 80% 200 75% 100 0 70% FY17 FY18 Q1 FY19 FY17 FY18 Q1 FY19 Cash Profit (Rs Crs) Improving Receivable Days (Months) 4 291 299 8 7 146 4 FY17 FY18 Q1 FY1
Slide 23: Growth Strategy
Growth Strategy
Slide 24: Solar Capacity Growth – India and Adani
Solar Capacity Growth – India and Adani India ~26 GW of live bids in near future 69022 57244 Live Bids 45924 Hybrid, 2500 21651 12444 Solar, 6870 6763 Manufacturing FY16 FY17 FY18 linked Gen, India - Solar India - RE 10000 • India Solar - CAGR of 79%, in last 2 years • India RE – CAGR of 23% in last
Slide 25: AGEL – Delivering Shareholder Value
AGEL – Delivering Shareholder Value Stable Cash Long term PPAs with Strong off-takers – Predictable cash flows Flows Drive high and predictable generation (Solar - P50 Focus, Operational Wind – P75 Focus) Excellence Lower cost through preventive maintenance focus Growth and Leverage internal accrual
Slide 26: Additional Materials
Additional Materials
Slide 27: AGEL – Corporate Structure
AGEL – Corporate Structure Adani Public 86.58% Adani Green Energy Ltd. 13.42% MP Wind - 12 MW 100% 100% 100% 100% 100%* 100% 100% 100% NEW SPVs MSUPPL PDPL AGETNL AGEUPL PSEPL KSPPL AWEGPL 937 MW 250 MW 220 MW 216 MW 290 MW 420 MW 20 MW 48 MW Wind Solar Solar Solar Solar Solar Wind Wind Solar Punjab
Slide 28: Adani Group: CSR Initiatives
Adani Group: CSR Initiatives Spread across 13 states in 20 locations of India reaching out to 5 lakh families in 1,450 villages Quality Education – Underprivileged & girl child, teacher training and Adani Vidyamandir Providing quality education to meritorious students from economically weaker sect
Slide 29: Thank You
Thank You
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