Orient Green Power Company Ltd · NSE:GREENPOWER
Orient Green Power — Investor Presentation (August 2014)
26 slides from Orient Green Power's investor presentation, August 2014
Slide 1: Orient Green Power Co. Ltd. Investor Presentation
Orient Green Power Co. Ltd. Investor Presentation Aug 2014
Slide 2: Disclaimer
Disclaimer This presentation is strictly confidential and may not be copied, published, distributed or transmitted. The information in this presentation is being provided by Orient Green Power Company Ltd. (also referred to as ‘OGPL’ or ‘Company’). By attending a meeting where this presentation is m
Slide 3: Table of Contents
Table of Contents Sections Particulars Page Nos. Section 1 Company Overview 3 Section 2 Business Overview 6 Section 3 Management Overview 16 Section 4 Financial Overview 18 Section 5 Industry Overview 20 2
Slide 4: Section 1: Company Overview
Section 1: Company Overview 3
Slide 5: OGPL: An Independent Power Producer of Renewable Assets
OGPL: An Independent Power Producer of Renewable Assets Company Overview Diversified Shareholding (June 2014) Others, Formed in 2006, Orient Green Power Co. Ltd. (OGPL) is an Indian 16.0% independent developer of renewable energy power plants (market Domestic Institutional capitalization as on 28t
Slide 6: Business Structure (Indian Operations)
Business Structure (Indian Operations) Biomass Wind(4) Acquired / Developed Wind Greenfield Wind Portfolio (299.2 MW) Portfolio (182.4 MW) 72.3% (5) 69.9% (5) 74.0% (5) Commissioned Beta – Commissioned Bharath Gamma (86.0 MW) (231.5 MW) TN AP TN & GJ (1) (32.5 MW) (26.0 MW) (61.8 MW) RJ (34.0 MW) TN
Slide 7: Section 2: Business Overview
Section 2: Business Overview 6
Slide 8: Diversified Portfolio Of Renewable Energy
1a Diversified Portfolio Of Renewable Energy Wind constitutes ~83% of OGPL’s overall commissioned portfolio OGPL has a good mix of renewable projects spread across various aggregating to 424.3 MW (as of 31st July 2014) states. Its wind projects are located in TN (314.1 MW), AP (69.2 MW), GJ (29.
Slide 9: OGPL Projects Spread Geographically
1b OGPL Projects Spread Geographically Wind Biomass 8
Slide 10: OGPL's Wind Portfolio
1c OGPL’s Wind Portfolio SPV State Capacity (MW) Commissioning Status Off-take Arrangement Commissioned Assets Bharat AP 26.0 Assets acquired between Sep 2007 to Mar 2008 (CoD in 1999-2000) Long term PPA with SEB Clarion TN 94.5 Assets acquired between Jun 2008 to Dec 2009 (CoD between 1994-2007) Sa
Slide 11: OGPL's Biomass Portfolio
1d OGPL’s Biomass Portfolio Project State Capacity (MW) Commissioning Status Off-take Arrangement Commissioned Assets Chippabarod RJ 8.0 Feb-2010 Long term PPA with Rajasthan utilities Kishanganj RJ 8.0 Oct-2013 Long term PPA with Rajasthan utilities Narsinghpur MP 10.0 Jan-2014 Sale to grid Hanuman
Slide 12: Off-Take Arrangement Providing Revenue Stability, Security & Growth
2 Off-Take Arrangement Providing Revenue Stability, Security & Growth Revenue Mix (FY’2014) 0% 15% 1% 12% 3% 69% Revenue Mix (FY’2013) 0% 18% Total Operating Group Captive Revenues: Third Party REC FITINR 4,129 GBI mn. Other Operating 45% 16% 21% Total Operating Revenues: INR 4,220 mn. Group Captive
Slide 13: Regulatory Impetus
3a Regulatory Impetus • Petition filed by IWPA in Q2 FY’14 before the High Court seeking relief on exemption from grid back down for WEGs Order has been remanded by the High Court to TNERC. TNERC order is awaited Evacuation in TN • APTEL directed TNERC to consider generation from wind while approv
Slide 14: Improvement In REC Market To Provide Stimulus
3b Improvement In REC Market To Provide Stimulus REC Units Traded on Power Exchanges in India (Units) 1,396,549 1,400,000 6% 1,200,000 1,000,000 863,430 800,000 7% 774,160 Total inventory of 3% RECs available with 696,559 OGPL as on 31st 628,696 600,000 577,449 10% July 2014 is 322,028 4% units 7% 4
Slide 15: Key Issues Constraining the Co. Being Addressed
4 Key Issues Constraining the Co. Being Addressed The Company believes that the following measures taken by TNEB will improve evacuation: Grid Back Removal of power cut in the state with effect from 1st June 2014 to increase consumption so more wind A down in Tamil energy could be accommodated N
Slide 16: Strong Support From Promoters & Financial Sponsors
5 Strong Support From Promoters & Financial Sponsors Corporate Sponsor Financial Investors In March 2013, Shriram Group infused INR 1.5 bn by way of preferential issue in OGPL at INR 15 per share (above prevailing market price at that time) Post open offer (at INR 15 per share – above prevailing
Slide 17: Section 3: Management Overview
Section 3: Management Overview 16
Slide 18: Strong & Professional Management
Strong & Professional Management One of the founders of Orient Green Power, currently the Managing Director and CEO of Shriram EPC Ltd. Holds a bachelor’s degree and a master’s degree in chemical engineering from Indian Institute of Technology, Madras. Mr. T Shivaraman Has about 26 years of ex
Slide 19: Section 4: Financial Overview
Section 4: Financial Overview 18
Slide 20: Financials Highlights
Financials Highlights INR mn Profit & Loss A/c Extract FY 2012 FY 2013 FY 2014 Q1 FY 2014 Q1 FY 2015 Commissioned Capacity (MW) 378 400 510 412 510 Sale of Power 2,141 3,548 3,595 1,058 1,307 Other Operational Income 280 672 533 175 166 Total Revenue from Operations 2,421 4,220 4,129 1,233 1,474 Ope
Slide 21: Section 5: Industry Overview
Section 5: Industry Overview 20
Slide 22: Increasing Prominence Of Renewable Energy
Increasing Prominence Of Renewable Energy Installed Capacity as on 31st March 2014 4.8 40.5 21.1 31.7 4.1 168.3 3.8 2.6 Total Capacity: 245 GW Total Capacity: 32 GW Thermal Nuclear Hydro Small Hydro Solar Power Wind Bio Power Gaining prominence of Renewable Energy in India: Power deficits over t
Slide 23: Wind Energy Industry Growth
Wind Energy Industry Growth Cumulative Wind Capacity in India 55,000 Annual 124,826 Growth 23% 45,000 59,351 Capacity 35,000 (MW) 10% 5% 23% 25,000 20% 21,132 15% 17,352 19,052 MW 23% 17% 33% 14,155 15,000 47% 10,241 11,806 15% 32% 44% 7,093 8,756 3,635 5,351 5,000 1,908 2,523 (5,000) 2002-03 2003-0
Slide 24: Tariffs in Wind v/s Solar
Tariffs in Wind v/s Solar Upward revisions in Wind FiT tariffs in key states over last 2 years (INR/ kWh) 36% 6.00 16% 5.92 5.44 34% 31% 4.69 4.70 4.77 17% 4.35 4.15 4% 4.00 3.64 3.56 3.39 3.51 3.50 2.00 Tamil Nadu Gujarat Rajasthan Andhra Pradesh Kerala Madhya Pradesh Revision Month Aug'12 Aug'12 S
Slide 25: Shorter Execution Cycle Of Wind Projects
Shorter Execution Cycle Of Wind Projects Wind Resources & Assessment Land Acquisition and Approvals Wind (Entire Development Approx. 12 – 18 months Phase) Construction / Financial Commissioning Evaluation (45 days) Site Financial Construction & Assessment Evaluation Commissioning Biomass (Entire App
Slide 26: Thank You
Thank You
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