Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Q2 FY22 Earnings Presentation
37 slides from Adani Green Energy's earnings presentation, 2021
Slide 1: Adani Green Energy Limited Earnings Presentation Q2 & H1 FY22
Adani Green Energy Limited Earnings Presentation Q2 & H1 F Y22 Consolidated Financials 1
Slide 2: Contents
CONTENTS 1 Adani Group 2 AGEL: Company Profile 3 AGEL: Operational & Financial Highlights 4 AGEL: ESG 5 AGEL: Investment Rationale Annexures
Slide 3: Adani Group
Adani Group Renewables
Slide 4: Adani Group: A world class infrastructure & utility portfolio
Adani Group : A world class infrastructure & utility portfolio Adani Transport & Logistics Energy & Utility • Marked shift from B2B to B2C Portfolio Portfolio businesses – 63.8% 100% 75% 60.2% • ATGL – Gas distribution network to serve key APSEZ ATL AGEL geographies across India NQXT2 Renewables Por
Slide 5: Adani Group: Decades long track record of industry best growth rates
Adani Group : Decades long track record of industry best growth rates across sectors Port Cargo Throughput (MMT) Renewable Capacity (GW) Transmission Network (ckm) CGD7 (GAs8 covered) 12% 45% 132% 20% 3x 5x 3x 30% 1.5x 4% 7% 25% Adani Adani Industry AGL Industry APSEZ Industry AGEL Industry ATL 2014
Slide 6: Adani Group: Repeatable, robust & proven transformative model of investment
Adani Group: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Origination Site Development Construction Operation Capital Mgmt Activity • Site acquisition • Engineering & design • Redesigning the capital • Analysis & market • Life cycle O&M
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 200,000 acres ~ 31 GW potential Geotechnical studies Resource rich Sites in strategic locations 85+ Wind data locations and detailed design plannin
Slide 8: Adani TotalEnergies Renewable Partnership
Adani TotalEnergies Renewable Partnership – Amongst Largest infrastructure and real asset platform in India – One of the largest energy players in the world & a leading liquefied natural gas player globally – Deep expertise and experience in developing large scale infrastructure projects in India –
Slide 9: Adani Green Energy Limited Company Profile
Adani Green Energy Limited Company Profile Renewables 9
Slide 10: AGEL: Transformational Renewable Company
AGEL: Transformational Renewable Company Pan India Presence 4x Locked-in Growth 1, 3 Renewable Capacity (in MW) 20,284 Operational Under exec../ Near Const. Wind Solar 5,410 MW – Operational Solar-Wind Hybrid 6,591 MW – Under execution 2 130 8,283 MW – Near Construction 3 5,410 395 20,284 MW - Locke
Slide 11: Majority Operating Portfolio by 2022 reducing Development Risk
AGEL: Majority Operating Portfolio by 2022 reducing Development Risk Assets contracted under 25 year PPA, 88% of capacity contracted to sovereign / sovereign equivalent rated counterparties Development risk to reduce with increasing proportion of Operating Capacity Low counterparty risk Operating ca
Slide 12: Operational & Financial Highlights
Operational & Financial Highlights H1 FY22 Renewables 12
Slide 13: Executive Summary – H1 FY22
AGEL: Executive Summary – H1 FY22 Key Developments ➢ AGEL’s overall renewable portfolio increases to 20,284 MW 1 on account of: ➢ Completion of acquisition of SB Energy’s India Renewable portfolio of 4,954 MW, which includes 1,700 MW operational assets ✓ Award of 450 MW Wind project from SECI in Oct
Slide 14: Completed Acquisition of SB Energy's 5 GW India Renewable Portfolio
AGEL: Completed Acquisition of SB Energy’s 5 GW India Renewable Portfolio Overview of Acquired portfolio of SB Energy Resource wise break up Counterparty Mix ✓ The transaction is for a fully completed Enterprise 450 , 2% Valuation of USD 3.5 bn (~ Rs. 26,000 cr) 324 , 1,700 MW – Operational 9% 7% 2,
Slide 15: Operational Capacity Addition & Sale of Energy
AGEL: Operational Capacity Addition & Sale of Energy Operational Capacity YoY (in MW AC) Wind 5,410 Solar 647 1 ✓ Operational Capacity increases by 2,610 MW on YoY basis 93% ` ❑ 725 MW Green field commissioning: 2,800 4,763 - 475 MW solar plants 397 1 2,403 - 250 MW wind plants Sep 2020 Sep 2021 ❑ 1
Slide 16: Operational Performance – H1 FY22
AGEL: Operational Performance – H1 FY22 Solar Portfolio Performance Wind Portfolio Performance CUF (AC) Sale of Energy (mn units) CUF (AC) Sale of Energy (mn units) 23.2% 40.7% 22.7% 874 3080 33.6% 40% ` 140% ` 2203 364 H1 FY21 H1 FY22 H1 FY21 H1 FY22 H1 FY21 H1 FY22 H1 FY21 H1 FY22 • Sale of Energy
Slide 17: Financial Performance – H1 FY22
AGEL: Financial Performance – H1 FY22 (All figures in INR Crore) Revenue from Power Supply EBITDA from Power Supply 1 48% 1682 ` 50% 1577 ` 1139 1050 ▪ Robust growth in Revenue from Power Supply is backed by robust growth in capacities and improved Solar and Wind CUF. H1 FY21 H1 FY22 H1 FY21 H1 FY22
Slide 18: Bridge of EBITDA from Power Supply – H1 FY21 to H1 FY22
AGEL: Bridge of EBITDA from Power Supply – H1 FY21 to H1 FY22 (All figures in INR Crore) EBITDA up by 50% YoY on back of improved revenue and minor O&M cost increase despite increased capacity 18
Slide 19: Debt Evolution from Mar-21 to Sep-21
AGEL: Debt Evolution from Mar-21 to Sep-21 Gross Debt & Net Debt (INR Cr)1 Net Debt Evolution (INR Cr) 38,885 5,085 4,507 18,968 1,945 2,476 29,292 14,547 Mar-21 Sep-21 2 3 Net Debt Short Term Trade Credit Cash & Bank Gross Debt Break up (INR Cr) 9,894 , 25% 28,991 , 75% Debt for Operational Project
Slide 20: De-risking & reduced finance cost through Prudent Debt Management
AGEL: De-risking & reduced finance cost through Prudent Debt Management Long Term vs Short Term Split – Sep’21 Gross Debt Mix 1 & Average Interest Cost Long Term Debt Short Term Debt 140% 12.0% 11.1% 120% 10.0% Includes Short 9.0% 100% Term Trade 22% 13% 8.0% 80% 1% Credits of INR 1% 30% 6.0% 4,507
Slide 21: ESG
Renewables Adani Green Energy Limited ESG
Slide 22: Robust ESG Assurance Framework
AGEL : Robust ESG Assurance Framework Guiding principles United Nations Global Sustainable Development SBTi Guiding Compact Goals Policies principle Disclosure Standards TCFD GRI Standards CDP disclosure Policy Structure Focus Area - UNSDG – Biodiversity Policy ESG E – Energy & Emissions as part of
Slide 23: Update on ESG Program
AGEL: Update on ESG Program Guiding Principles Disclosure Standards ✓ TCFD: Supports TCFD and the annual ESG Report enumerates progress ✓ Signatory to United Nations Global Compact (UNGC): Submitted first on Governance; Strategy; Metrics and Targets and Risk Management Communication on Progress (COP
Slide 24: Adopted UN Sustainable Development Goals
AGEL– Adopted UN Sustainable Development Goals United Nations Sustainable Our Key Social Initiatives mapped to UNSDG Development Goals 2030 Education Gujarat – Enhancing quality of education through adoption of government primary 4. Quality Education Rajasthan schools. Renovation of public library i
Slide 25: Revised Board of Charter implemented
AGEL: Revised Board of Charter implemented Board Independence Board Committee Existing Approved Audit Committee 75% 100% Nomination and Remuneration Committee 75% 100% Corporate Social Responsibility Committee 33% At least 75% Stakeholders Relationship Committee 67% At least 50% Risk Management Comm
Slide 26: Investment Rationale
AGEL: Investment Rationale Renewables
Slide 27: A Compelling Investment Case
AGEL: A Compelling Investment Case ▪ Pedigree of Adani Group: leadership in infrastructure energy & utility and transport & logistics sectors Strong Sponsorship ▪ Robust, reliable supply chain backed by strategic investments ▪ Strategic partnership with French Energy major TotalEnergies SE ▪ India t
Slide 28: Appendix
Appendix 28 Operational & Financial Highlights Q4 FY21
Slide 29: Operational Performance – Q2 FY22
AGEL: Operational Performance – Q2 FY22 Solar Portfolio Performance Wind Portfolio Performance CUF (AC) Sale of Energy (mn units) CUF (AC) Sale of Energy (mn units) 42.9% 20.7% 21.4% 1430 471 41% 30.3% ` 185% ` 1017 165 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 • Sale of Energy
Slide 30: Financial Performance – Q2 FY22
AGEL: Financial Performance – Q2 FY22 (All figures in INR Crore) Revenue from Power Supply EBITDA from Power Supply 1 834 58% 787 ` 61% ` 530 490 ▪ Robust growth in Revenue from Power Supply is backed by robust growth in capacities and improved Solar and Wind CUF. Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 ▪ C
Slide 31: Appendix: Receivables Details
Appendix 31 AGEL: Receivables Details
Slide 32: Receivables Ageing Profile
AGEL: Receivables Ageing Profile (in INR Cr) Not Due Due 30-Sep-21 30-Sep-21 Off Takers 0-60 days 61-90 days 91-120 days 121-180 days >180 days Total Due TANGEDCO 170 110 58 66 102 137 473 NTPC 108 22 - - - - 22 SECI 105 1 - - - - 1 Others 200 34 22 21 40 75 192 Total 583 167 80 87 142 212 688 ▪ Wit
Slide 33: RG1 & RG2: Financials & Key Operational Numbers
Appendix 33 RG1 & RG2: Financials & Key Operational Numbers
Slide 34: RG1 Portfolio (930 MW) Performance in H1 FY22
AGEL: RG1 Portfolio (930 MW) Performance in H1 FY22 Plant Availability Grid Availability 99.5% 99.7% 99.1% 99.1% • Sale of Energy up by 1% on the back of 20 bps improvement in CUF H1 FY21 H1 FY22 H1 FY21 H1 FY22 • Improved CUF performance backed by: CUF (AC) Sale of Energy (mn units) - 20 bps improv
Slide 35: RG2 Portfolio (570 MW) Performance in H1 FY22
AGEL: RG2 Portfolio (570 MW) Performance in H1 FY22 Plant Availability Grid Availability 99.8% 99.9% 99.1% 98.7% • Plant availability improves from 99.8% to 99.9% demonstrating the O&M excellence H1 FY21 H1 FY22 H1 FY21 H1 FY22 • Plant availability improvement compensates for decrease in grid CUF (A
Slide 36: 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 37: Thank You
Renewables 37 Thank You