Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Q1 FY2021 Earnings Presentation
32 slides from Adani Green Energy's earnings presentation, September 2020
Slide 1: Adani Green Energy Limited Earnings Presentation Q1 FY21
Renewables Adani Green Energy Limited Earnings Presentation Q1 F Y21 Consolidated Financials
Slide 2: Contents
CONTENTS Operational & Financial 04-07 Adani Group 09-11 AGEL – Company Profile 13-19 Highlights AGEL – Q1 FY 21 Executive Summary 12 Adani: World class infrastructure AGEL: Leading Renewable Player & utility portfolio 04 in India 09 AGEL: Won 8GW manufacturing linked project 13 Adani: Repeatable, r
Slide 3: Adani Group
Renewables Adani Group Amongst the Largest Infrastructure & Utility Portfolio of the World
Slide 4: Adani Group: A world class infrastructure & utility portfolio
Adani Group: A world class infrastructure & utility portfolio Transport & Logistics Portfolio Adani Energy & Utility Portfolio Adani 63.5% 100% 75% 75% Marked shift from B2B to B2C businesses - APSEZ SRCPL ATL AGEL Port & Logistics Rail T&D Renewables AGL - Gas distribution network to serve key 100%
Slide 5: Adani Group: Repeatable, robust & proven model of infrastructure development
Adani Group: Repeatable, robust & proven model of infrastructure development Development Operations Post Operations Phase Origination Site Development Construction Operation Capital Mgmt Analysis & market Site acquisition Engineering & design Life cycle O&M Redesigning the capital intelligence plann
Slide 6: Adani Group: Repeatable, robust business model applied to drive value
Adani Group: Repeatable, robust business model applied to drive value Successfully applied across Infrastructure & utility platform Development at large scale & within time and budget India’s Largest Longest Private HVDC 648 MW Ultra Mega Largest Single Location Commercial Port Line in Asia Solar Po
Slide 7: AGEL: Robust Business Model with Rapid Growth & Predictable Returns
AGEL : Robust Business Model with Rapid Growth & Predictable Returns.. Total Portfolio Diversified Portfolio ESG 13,9901MW 11 states Development 74% solar; 12% wind; 14% wind-solar hybrid Pure-play Solar & Wind Assets (2,595 MW Operational 11,395 MW Pipeline) 100% Contracted Capacity Counterparty pr
Slide 8: Adani Green Energy Limited Company Profile
Renewables 8 Adani Green Energy Limited Company Profile
Slide 9: AGEL: Leading Renewable Player in India
AGEL: Leading Renewable Player in India… Total 50% Adani 50% Operational Solar Operational Wind Adani TOTAL JV Co 50 MW Assets 397 MW Project Pipeline 11,395 MW RG 1 RG 2 TN SPVs Solar Wind Hybrid 930 MW 570 MW 648 MW 8,425 MW 1,280 MW 1,690 MW Presence across Largest Listed Resource and 11 resource
Slide 10: AGEL: Large, Geographically Diversified Portfolio: ~80% with Sovereign entities
AGEL: Large, Geographically Diversified Portfolio: ~80% with Sovereign entities 13,990 MW # Portfolio | 2,595 MW operational Strong PPA counterparties* Diversified Resource Mix* Sovereign Offtakers 79% Solar Wind Hybrid 14% State DISCOMs 14% Non- Govt. 7% Solar 74% Wind 12% Operational Under Impleme
Slide 11: Operational & Financial Highlights
Renewables 11 Operational & Financial Highlights
Slide 12: AGEL – Q1 FY21 Executive Summary
AGEL – Q1 FY 21 Executive Summary Total Capacity Addition & Strategic Partnership • Awarded the single largest Solar development project totaling 8 GW, taking the total capacity to 14 GW including operational projects and project pipeline • Ranked as Largest Solar Power Developer in the World by US
Slide 13: AGEL: Won 8GW manufacturing linked project
AGEL: Won 8GW manufacturing linked project Proposed site Salient Features in Gujarat & Rajasthan • Total Investment of ~ USD 6 bn • Fixed PPA tariff of Rs. 2.92/ kWh; PPA for a period of 25 years • To be delivered over a period of ~5 years • Solar PV Cell & Module manufacturing capacity of 2 GW by 2
Slide 14: AGEL: COVID-19 Update
AGEL: COVID–19 Update Operations Under-construction Access to Capital ▪ Electricity Generation has been ▪ MNRE has given all renewable ▪ Concluded Adani-TOTAL JV specified as an Essential projects in the pipeline a blanket and received investment of Service amid Lockdown extension of 5 months from I
Slide 15: AGEL: Stable Operational Performance at Portfolio Level
AGEL: Stable Operational Performance at Portfolio Level Average Capacity1 (MW AC) CUF % (AC) Solar Wind 2 Solar Wind 40.13% 171 213 35.80% 89 26.97% 30.96% 31.21% 72 29.81% 60 60 72 72 25.89% 25.31% 21.42% 60 21.66% 24.81% 21.68% 20.02% 25.40% 2,148 2,148 2,164 20.08% 20.13% 1,948 19.98% 1,898 1,898
Slide 16: AGEL Solar Performance: Stable Portfolio Performance in Q1 FY21
AGEL Solar Performance: Stable Portfolio Performance in Q1 FY21 120.0% 1300 1200 100.0% 1181 @ 1100 1058 80.0% 1000 ▪ Solar Performance achieved better than P75 60.0% 98.7% 97.3% 900 target of 24.3% 99.5% 99.6% 40.0% 800 ▪ Plant availability continues to be high 700 ▪ Net Export of 1,181 mn units, u
Slide 17: AGEL Wind Performance: Improving Portfolio Performance in Q1 FY21
AGEL Wind Performance: Improving Portfolio Performance in Q1 FY21 120.0% 250 • Plant availability improved significantly 100.0% 201 @ 200 • Grid availability continues to be high 80.0% • Net Export of 201 mn units, up 259% Y-o-Y 150 60.0% 99.9% 99.9% • Wind CUF improved on account of better turbine
Slide 18: AGEL Financial Performance for Q1FY21
AGEL Financial Performance for Q1FY21 Particulars Q1 FY21 Q1 FY20 % Change ▪ Total Income at 878 Cr, up by 30% YoY Total Income 878 675 30% ▪ Revenue from Power Supply was up by 10% Revenue from Power Supply 609 551 10% YoY with added capacities, steady Solar CUF & improved Wind CUF ▪ EBITDA from Po
Slide 19: AGEL: EBITDA from Power Supply: Q1 FY21
AGEL: EBITDA from Power Supply: Q1 FY21 (All fig. in Rs Cr.) Performance supported by sustainable & Integrated business model 19
Slide 20: ESG
Renewables 20 Adani Green Energy Limited ESG
Slide 21: AGEL ESG Philosophy
AGEL ESG Philosophy ➢ Energy Efficiency by Matching the load curve through hybrid power plant and better responsiveness through Adani – Energy Network Operating Center (ENOC) ➢ AGEL is committed to SBTi, became supporter of TCFD and is a signatory to UNGC. ➢ Disclose as per CDP from Q2,FY21 onwards
Slide 22: AGEL: ESG performance Update for Q1 FY21
AGEL: ESG performance Update for Q1 FY21 Resource Management Elongated maturity & Reduced Cost ▪ 1,255 MWH energy purchased from grid ▪ 1.3 million ton CO2 emission reduced ▪ 2,259,118 KL fresh water withdrawal ▪ 8 MT waste generated and disposed through authorized vendor ▪ 1143 Tree plantation done
Slide 23: Future Outlook
Renewables Future Outlook 23
Slide 24: AGEL: Locked-in Growth with improving counterparty mix
AGEL: Locked-in Growth with improving counterparty mix Strong Execution Track Record… Operational (MW) UC (MW) 25,000 # 13,990 25,000 5,990 11,395 4,560 2,000 2,570 3,445 798 612 2,590 485 1,192 808 1,958 1,970 2,595 313 2,545 FY 16 FY 17 FY 18 FY 19 FY 20 Q1 FY 21 FY 25E …Improving Counterparty mix
Slide 25: AGEL: Future Growth Opportunities
AGEL: Future Growth Opportunities Expanding market share led by GW Scale Development India’s Strategy for Future Development • Deploying new models for renewables to make it main stream AGEL Capacity# (GW) 175 + e.g. Hybrid, RTC Power etc. India Renewable Capacity (GW) • Building transmission infras
Slide 26: AGEL: A Compelling Investment Case
AGEL: A Compelling Investment Case Stable & predictable cash- ▪ Predictable cash flow with 100% contracted business flows ▪ Long term PPA’s (~25 years); ~79% sovereign counterparties ▪ High and predictable generation World-class O&M practice ▪ Lower cost through preventive maintenance focus ▪ AGEL w
Slide 27: Appendix
27 Appendix
Slide 28: Receivables Ageing Profile
AGEL: Receivables Ageing Profile (in INR Cr) Not Due Overdue 30-Jun-20 30-Jun-20 Off Takers 0-60 days 61-90 days 91-120 days 121-180 days >180 days Total Overdue TANGEDCO1 166 131 59 42 82 313 627 NTPC2 69 0 0 0 0 0 0 SECI3 61 0 0 0 0 0 0 Others 122 18 6 6 8 10 48 Total 418 148 66 48 89 323 675 LC S
Slide 29: Listing Result – Consolidate profit and loss (1/2)
AGEL: Listing Result – Consolidate profit and loss (1/2) A D A N I G R E E N E N E R G Y LIM IT E D ( C IN : L4 0 10 6 G J 2 0 15 P LC 0 8 2 0 0 7 ) R e gd. O f f ic e : “ A da ni C o rpo ra t e H o us e ” , S ha nt igra m , N e a r V a is hno D e v i C irc le , S . G . H ighwa y, Kho diya r, A hm e
Slide 30: Listing Result – Consolidate profit and loss (2/2)
AGEL: Listing Result – Consolidate profit and loss (2/2) C o ns o lida t e d 3 M o nt hs e nde d 3 M o nt hs e nde d 3 M o nt hs e nde d F o r t he ye a r S r. P a rt ic ula rs on on on e nde d o n No. 3 0 .0 6 .2 0 2 0 3 1.0 3 .2 0 2 0 3 0 .0 6 .2 0 19 3 1.0 3 .2 0 2 0 ( Una udit e d) ( Una udit e
Slide 31: 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 32: Thank You
Renewables 32 Thank You