Adani Power Limited · NSE:ADANIPOWER
Adani Power — Investor Presentation (June 2024)
35 slides from Adani Power's investor presentation, Jun 18, 2024
Slide 1: Exchange filing cover letter for investor presentation
June 18, 2024 To, BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Bandra (E) Mumbai – 400 001. Mumbai – 400 051. Scrip Code: 533096 Scrip Code: ADANIPOWER Dear Sir(s), Sub.: Investor Presentation for interaction with Investors dt.
Slide 2: Adani Power Limited Investor Presentation June 2024
Adani Power Limited Investor Presentation June 2024
Slide 3: 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 Power Limited (“APL”) and its subsidiaries , associates, and joint ventures (c
Slide 4: Table of Contents
Table of Contents 1 About Adani Portfolio 2 About Adani Power Limited (APL) 3 Power Sector Growth Outlook 4 APL: Capturing India’s Growth Potential 5 APL: Strategic Advantages 6 APL: Performance Highlights and Growth Potential 7 APL: ESG Practice 8 APL: Investment Case Annexure 3
Slide 5: About Adani Portfolio
1 About Adani Portfolio STRICTLY CONFIDENTIAL
Slide 6: Adani: A World Class Infrastructure & Utility Portfolio
Adani: A World Class Infrastructure & Utility Portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal Direct to Incubator Energy & Utility Transport & Logistics & Mining consumer (100%) (100%) (72.61%) (100%) (50.00%) (100%) (100%) ANIL AdaniConneX3
Slide 7: Adani Portfolio: Decades long track record of industry best growth with national footprint
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 71% 1,2 EBITDA 92% 1,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL Adani’s Core Infra. ATGL Platfo
Slide 8: Adani: Repeatable, robust & proven transformative model of investment
Adani: Repeatable, robust & proven transformative model of investment DEVELOPMENT OPERATIONS CONSUMERS 1 New C.E.O. Adani Infra (India) Limited (AIIL) Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Construction Operation Inspired Purpose & Value Creation AC
Slide 9: About Adani Power Limited (APL)
2 About Adani Power Limited (APL) STRICTLY CONFIDENTIAL
Slide 10: APL: Multifaceted power producer
APL: Multifaceted power producer Core Business Embedded Expertise Value Enhancement Emerging Opportunities Training and Vendor Power Generation Logistics Waste Management Development Solid fuel and fly ash: High quality manpower India’s largest private Value creation out of Sourcing and disposal dev
Slide 11: APL: Operating Portfolio Overview: Strategically located, diversified fleet
APL: Operating Portfolio Overview: Strategically located, diversified fleet Near-Pithead Coastal Hinterland 8,070 MW 5,820 MW 2,920 MW • Tiroda, Maharashtra : 3,300 MW • Raipur, Chhattisgarh : 1,370 MW • Raigarh, Chhattisgarh : 600 MW • Mundra, Gujarat : 4,620 MW • Kawai, Rajasthan : 1,320 MW Assets
Slide 12: APL: Rapid organic and inorganic growth
APL: Rapid organic and inorganic growth Capacity growth over the years (GW) 15.25 Organic 13.65 12.4 Inorganic 10.48 4.37 9.28 4.37 7.96 1.20 3.17 5.98 4.00 0.66 1.32 5.98 7.96 9.28 9.28 9.28 9.28 10.88 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2020 FY2022 FY2024 Set up India’s 1st Demonstr
Slide 13: APL: Excellent revenue visibility, fuel security, and EBITDA stability
APL: Excellent revenue visibility, fuel security, and EBITDA stability Contracted capacity Pithead merchant capacity • Substantial capacity tied up in LT / MT • Logistics cost advantage from near- contracts with financially sound pithead plant location counterparties • Enhanced competitiveness with
Slide 14: Power Sector Growth Outlook
3 Power Sector Growth Outlook STRICTLY CONFIDENTIAL
Slide 15: Thermal power is the base load power solution for India's electricity grid
Thermal power is the base load power solution for India’s electricity grid Capacity & Generation Current Landscape FY2022 UoM Global India India % − Per capita power consumption at 1331 kWh vs global average of 3500 kWh Total Installed Capacity GW 8,511 406 4.8% − Strong growth expected in India’s p
Slide 16: Base load generation requirement to increase along with increasing renewable capacity
Base load generation requirement to increase along with increasing renewable capacity Power demand poised to accelerate Thermal power to continue servicing base load Expected Growth Coal Renewable Others Billion Units 2,474 The National Electricity Plan 2022-32 Gross Generation in BU 2,666 Power Dem
Slide 17: APL: Capturing India's Growth Potential
4 APL: Capturing India’s Growth Potential STRICTLY CONFIDENTIAL
Slide 18: APL: Securely positioned for growth
APL: Securely positioned for growth Existing Organic Multi-Year Growth Outlook (GW) Inorganic 25.87 21.07 21.87 18.87 19.47 8.59 15.25 8.59 8.59 7.99 8.59 4.37 10.88 10.88 10.88 12.48 13.28 17.28 FY2024 FY2025 FY2026 FY2027 FY2028 FY2029 Strong project Excellence in power 6.40 GW under 4.22 GW of in
Slide 19: APL: Growth path for sustained leadership
APL: Growth path for sustained leadership Operational Capacity (MW) Under Construction (MW) Under Development (MW) Total Capacity (MW) APL Raigarh Phase-II: 1,600 MW 12,450 MW 15,650 MW (ListCo) Raipur Phase-II: 1,600 MW APJL 1,600 MW 1,600 MW (100% Subsidiary) MEL Phase-I: 1,200 MW Phase-II: 1,600
Slide 20: APL: Strategic Advantages
5 APL: Strategic Advantages STRICTLY CONFIDENTIAL
Slide 21: Fuel management & logistics – Key competitive advantage
Fuel management & logistics – Key competitive advantage Fuel management is key to revenue stability Plant and Mine Locations Only IPP in India with in-house, mine-to-plant 01 logistics capability Handling approx. 60 MMTPA coal, 13 MMTPA Fly 02 Ash Kawai NCL Godda Constant attention to multiple agenc
Slide 22: Operational Excellence through Energy Network Operation Center (ENOC)
Operational Excellence through Energy Network Operation Center (ENOC) ENOC (Energy Network Operating Centre) − Remote monitoring, diagnosis, and troubleshooting Centralized Management − Centralized power scheduling for optimum capacity utilisation − Real time data access, enabling smooth and agile d
Slide 23: Project Management & Assurance Group (PMAG) - End to End Project Integration
Project Management & Assurance Group (PMAG) - End to End Project Integration Bidding, Site Scouting Project Development & Basic Engineering Execution Operations Concept Integrated Project Management Commissioning Strength: Team of 90 professionals having hands-on experience of 2,000+ man-years of co
Slide 24: APL: Performance Highlights
6 APL: Performance Highlights STRICTLY CONFIDENTIAL
Slide 25: APL: Operating Performance Trends
APL: Operating Performance Trends Average Operational Capacity (MW) Commercial Availability under LT PPAs (%) 91% 89% 90% 90% 15,051 13,650 83% 12,450 12,450 79% 11,810 10,480 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 PLF (%) Sales (BU) 79 67% 64% 65% 64 59% 55 59 52 53 52% 48% FY1
Slide 26: APL: Key Financial Highlights
APL: Key Financial Highlights Total Revenues (Rs. Crore) Credit Profile +21% CAGR Domestic Ratings 60,281 Listed Entities Rating Agency INR Ratings APL CRISIL AA-/Stable 43,041 APL India Ratings AA-/Stable 28,150 31,686 27,842 APJL India Ratings BBB/Stable Net Senior Debt to EBITDA (x)1 4.8 5.4 FY20
Slide 27: APL: Growth Outlook
APL: Growth Outlook Doubling of current capacity: 30,670 MW by FY 2029-30 Current capacity Ongoing projects Upcoming opportunities Target Organic 10,880 MW 6,400 MW 4,800 MW 22,080 MW Efficient and modern Under construction / Brownfield expansion Organic capacity fleet development Inorganic 4,370 MW
Slide 28: APL: ESG Practice
7 APL: ESG Practice STRICTLY CONFIDENTIAL
Slide 29: APL: ESG Highlights
APL: ESG Highlights Material Topic Targets Key ESG Initiatives/Achievements UN SDGs Reduction in GHG emission intensity Climate Change Adaptation and mitigation Climate Change Adaptation to 0.84 tCO2e/MWh • Average Emission intensity - 0.85 tCO2e/MWh. by FY 2025 and Mitigation Water Management • Wat
Slide 30: APL: Board of Directors and Management overview
APL: Board of Directors and Management overview 100% Chaired Chaired IDs By IDs By NID Board of Directors Statutory Committees 40% Independent Directors - Audit 🗹 Comprised of only Independent Directors - Nomination & Remunerations 🗹 100% of - Stakeholder Relationship 🗹 Statutory Committees -…
Slide 31: APL: Investment Case
8 APL: Investment Case STRICTLY CONFIDENTIAL
Slide 32: APL's unique positioning to catapult on the tail-wind of India's growth story
APL’s unique positioning to catapult on the tail-wind of India’s growth story ▪ 85% of capacity contracted under LT / MT PPAs, with 77% having assured fuel cost recovery Secure Business ▪ 79% of domestic fuel requirements secured under LT / MT contracts Model ▪ Domestic credit rating of APL is healt
Slide 33: Thank You
Thank You
Slide 34: Annexure
Annexure STRICTLY CONFIDENTIAL
Slide 35: APL: Details of contracted capacity (16.85 GW)
APL: Details of contracted capacity (16.85 GW) Capacity tie-up (%) Fuel cost recovery mix (%) Regulated Utility Fuel cost pass TBCB-State DISCOMs through 15% 6% 3% 23% TBCB-Private 33% 85% 10% Escalable energy 77% charge with change- Transnational 6% (Sovereign) in-law Offtake risk 60% Fuel cost rec