Adani Green Energy Limited · NSE:ADANIGREEN
Adani Green Energy — Investor Presentation (August 2024)
42 slides from Adani Green Energy's investor presentation, Aug 8, 2024
Slide 1: Cover letter to stock exchanges: Equity Investor Presentation
Date: August 08, 2024 To BSE Limited The National Stock Exchange of India Limited P J Towers, “Exchange Plaza”, Dalal Street, Bandra – Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 541450 Scrip Code: ADANIGREEN Dear Sir, Sub: Equity Investor Presentation In furtherance to
Slide 2: Adani Green Energy Limited Equity Investor Presentation
1 Adani Green Energy Limited Equity Investor Presentation August 2024 Photo: AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan
Slide 3: 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 4: Adani Portfolio
adani Renewables OT Adani Portfolio
Slide 5: 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 Direct to Incubator Energy & Utility Transport & Logistics & Mining consumer (100%) (100%) (74.72%) (100%) (50.00%) (100%) (100%) ANIL Ad
Slide 6: 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 71% 1,2 EBITDA 92% 1,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL Adani’s Core Infra. Platform –
Slide 7: Adani Portfolio – Repeatable, robust & proven transformative model of investment
Adani Portfolio – 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
Slide 8: 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 ~2,50,000 acres of resource rich Geotechnical studies Development sites for renewable in strategic locations 50+ GW potential & Special studies (AIIL) Resource
Slide 9: 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 10: India power demand growing faster than historical growth rates
India power demand growing faster than historical growth rates TWh 3,000 2,500 Current FY: Apr & May 2,424 2024 – 13% growth YoY 2,000 1,511 1,500 1,000 831 500 0 FY10 FY23 FY30 Actual Projected ➢ Power Demand to grow @ 6-7% CAGR with projected peak demand of 350+ GW in FY-30 ➢ Factors driving elect
Slide 11: Robust RE growth so far but much more needed to match the demand growth
Robust RE growth so far but much more needed to match the demand growth Total Installed Power Capacity (GW) Total Renewable Capacity (GW) 777 431 442 370 399 344 305 249 144 110 69 87 35 46 FY14 FY16 FY18 FY20 FY22 FY24 FY30 FY14 FY16 FY18 FY20 FY22 FY24 FY30 Actual Target Actual Target Installed Ca
Slide 12: Massive push for Growth of Renewable Energy in India
Massive push for Growth of Renewable Energy in India • Nation’s commitment to reaching 500 GW non-fossil power capacity by 2030 Govt • Supporting regulations in form of ISTS Waiver, Green Open Access, RPO/RGO, Hydro & storage push commitment • MNRE targeting RE bids worth 50 GW/year over next 5 year
Slide 13: India: Shifting Peak Power Demand
India: Shifting Peak Power Demand Demand Curve of Demand Curve of Demand Curve of maximum Demand maximum Demand maximum Demand Policy level interventions has enabled integration of solar Day in 2018-19 Day in 2021-22 Day in 2022-23 thereby shifting the evening peak to day time • Separation of Agricu
Slide 14: AGEL – Committed to a sustainable future
AGEL – Committed to a sustainable future Holding Structure ESG Ratings RE Sector Ranking 2 Rating Agency Rating/Score Adani Family Global India Score of 4.2 / 5 57.5% Constituent of 3 1 FTSE4Good Index ESG Risk Rating of 14.3 Top 10 2 Score of 77 / 100 Top 5 1 19.7% 11.7% Other Public Rated ‘A-’ Lea
Slide 15: AGEL – Leading India's Energy Transition
AGEL – Leading India’s Energy Transition Focused on delivering Increased focus on C&I and Fully funded growth with renewable power and Merchant opportunities to disciplined capital storage solutions maximize value creation management Developing renewable Driving operational Setting new benchmarks in
Slide 16: AGEL – Renewable energy portfolio evolution up to 2030
AGEL – Renewable energy portfolio evolution up to 2030 Today 2030 11% 19% 5% 100% Must-run Portfolio 13% 15% 11.2 GW Resource Mix 50 GW 25-Year Fixed tariff PPAs 66% 71% to contribute majority of the portfolio Solar Wind Hybrid Solar Wind Hybrid PSP Attractive tariffs in merchant and C&I 8% 15% Stro
Slide 17: 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 18: Adani Green Energy Limited: Business Strategy
03 Adani Green Energy Limited (AGEL): Business Strategy Photo: AGEL’s Dayapar Wind Cluster, Gujarat
Slide 19: 3a. Origination and Development Readiness
3a. Origination and Development Readiness
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: 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 22: 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 23: 3b. Operational Excellence
adani Renewables 3b. Operational Excellence
Slide 24: 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 25: 3c. Capital Management Philosophy
3c. Capital Management Philosophy
Slide 26: Replicating Adani Business Model – Capital Management Philosophy
Replicating Adani Business Model – Capital Management Philosophy De-risking of underlying 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 P
Slide 27: 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 28: 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 29: AGEL – ESG Updates
AGEL – ESG Updates Focus Area Material Topic Targets Key ESG Initiatives/Achievements UN SDGs Committed to avoid GHG Climate Change emissions through development Climate Change • 5.3 Mn ton CO2 emission avoided in Q1 FY25 of 50 GW RE • GHG emission reduction: 99.8% less emission intensity per unit o
Slide 30: AGEL: Strong Governance Framework
AGEL: Strong Governance Framework Key Governance Areas Key Highlights ESG Governance Structure ✓ 50% Independent Directors Corporate Responsibility Board Independence & Committee at Board level Diversity ✓ 10% Women Directors (to be reinstated to 33% in longer term) ✓ Corporate Responsibility Commit
Slide 31: Investment Rationale
05 Investment Rationale Photo: AGEL’s Solar-Wind Hybrid plants at Jaisalmer, Rajasthan
Slide 32: Key Investment Highlights
Key Investment Highlights – Resource Availability: Strategic sites of 2,50,000 acres for solar and wind plant development and 5+ GW for PSP development backed by comprehensive geotechnical studies, fully prepared evacuation infrastructure, and meticulously Development & crafted design work & resourc
Slide 33: Annexures: AGEL Operational & Financial Performance
Annexures AGEL: Operational & Financial Performance
Slide 34: AGEL: Operational Performance
AGEL: Operational Performance Operational Capacity (MW AC – PPA capacity) CUF % (AC) Solar Wind Hybrid 10,934 11,184 Solar Wind Hybrid 46.0% 2,140 2,140 40.7% 8,086 1,651 35.5% 36.2% 1,401 30.8% 29.4% 2,140 26.7% 26.8% 24.7% 25.2% 24.5% 25.4% 5,410 22.6% 22.5% 23.8% 971 647 3,470 7,393 7,393 2,545 4
Slide 35: 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 2,528 2,207 2,374 1,859 FY20 FY21 FY22 FY23 FY24 Q1 FY25 FY20 FY21 FY22 FY23 FY24 Q1 FY25 EBITDA from Power Supply (%) Cash Profit 2 92% 92% 92% 93% 89% 91% 3,986 3,192 1,
Slide 36: Annexures: AGEL Asset Level Details
Annexures AGEL: Asset Level Details
Slide 37: 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 38: 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 39: 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 40: Asset Level Details – Operational (contd.)
Asset Level Details – Operational (contd.) Contracted Capacity Capacity COD/ Counterparty PPA SPV Project Location Type Tariff Capitalizat (AC) (DC) Name Term ion 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 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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