Azure Power Global Limited · OTC:AZREF

Azure Power Global — Investor Presentation (September 2017)

23 slides from Azure Power Global's investor presentation, September 2017

Slide 1: Corporate Presentation September 2017
India’s first private grid connected MW Solar plant India’s first distributed rooftop solar project over one megawatt Pan India portfolio of solar assets in 18 States Corporate Presentation September 2017 1 | Copyright © 2017 Azure Power | www.azurepower.com
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This information contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, including statements regarding our future financial and operating guidance, op
Slide 6: High Growth Indian Solar Market
High Growth Indian Solar Market Solar Power is positioned to grow rapidly as a leading solution to India’s structural power deficit Fast growing Indian economy has Solar is the most affordable source of power Solar power is a key part of the solution outstripped its power supply (2) ($/kWh) 0.31 0.2
Slide 7: Azure Power: A Unique Opportunity
Azure Power: A Unique Opportunity Azure represents a unique opportunity to invest in a leading solar power company in India with a track record of execution and high growth Integrated Strong Ability Business Model Track Record To Win A Market Leading Business Today 771 8.5% An Industry Leader with ~
Slide 8: Company At A Glance
Company At A Glance Developed India’s first utility scale solar project in 2009 Diversified portfolio of 1,069 MW committed & operating in 18 States. 34 operational utility projects, 5 under construction or committed utility Long term, fixed price PPAs typically 25 years; tariff not projects subject
Slide 9: Diversified Portfolio; 25 Year PPAs with High Quality Sovereign Backed Entities
Diversified Portfolio; 25 Year PPAs with High Quality Sovereign Backed Entities Well diversified offtaker mix Indian Railways Rooftop Majority of our portfolio consists of strong credit sovereign off- NVVN takers Over 50%1 of the portfolio contracted with GoI sovereign State backed entities SECI Ele
Slide 10: Issued India's First Solar Green Bond
Issued India’s First Solar Green Bond Coupon Rate: 5.50%, one of the Ready access to low cost capital: The lowest interest rates to date for an company has a diversified capital base and Indian solar company US$500 mn access to international fixed income investors Green Bond Bond Highlights High Deb
Slide 11: Powering Utilities, Commercial and Community Engagement
POWERING UTILITIES • India’s First Private Utility Scale Solar Power Plant • 34 Operational Utility Solar Power Plant • Presence Across 18 States POWERING COMMERCIAL • India’s First Private Grid Connected Solar Rooftop Power Plant • Rooftop portfolio of 100MW+ across 14 states • Covers More Than 1,0
Slide 13: The Solar Advantage; Lowest Cost, Most Reliable Resource with Greatest Potential
The Solar Advantage; Lowest Cost, Most Reliable Resource with Greatest Potential • Solar more reliable & predictable: high availability • Generation in seasons when peak demand is higher Azure Power’s solar plants • Coal/gas can have interruptions in availability on • India’s summer peak demand high
Slide 14: Federal Government's Capacity Addition Plan
Federal Government’s Capacity Addition Plan Visibility of Solar Tenders Through June 2017(1) India’s 100GW Solar Capacity Addition Roadmap 100GW Target State Policy 8,869 1,510 SECI 4,310 4,017 Ground Mounted Rooftop 60GW NTPC 3,000 5,000 Auctioned (MW) Rooftop 1,000 688 40GW Visiblity 0 5,000 10,00
Slide 16: Local Expert with Global Reach
Local Expert with Global Reach Azure wins by combining local development expertise with an ability to globally source capital and technology  Key relationships throughout federal and state governments supported by: Local  Existing presence in 18 states as of July 31, 2017  Policy initiative advoc
Slide 17: High Quality Assets & Declining Costs
High Quality Assets & Declining Costs Achieved a 85% BOS cost decline since inception due to value engineering, design and procurement efforts Partnerships with World Class Technology Partners Strong supplier relationships > $500mn in supplier purchases Integrated Approach Resulting in Decreasing Co
Slide 18: Fully Integrated In-House Capabilities
Fully Integrated In-House Capabilities Track record reduces risk while increasing project returns Timeline Key Stages of Project Development & Operation Case Study: Punjab 150MW Strategic Bidding  Track all auctions in the market  PPA signed Feb. 2016 Before Bid  Expert development team with effe
Slide 19: Track Record of Land Procurement & Transmission
Track Record of Land Procurement & Transmission Azure’s track record of securing land while establishing local relationships facilitates continued portfolio growth Significant Pan India Presence Development Highlights  Land and Transmission development: Developed a significant amount of freehold, l
Slide 20: Experienced Leadership
Experienced Leadership Name and Designation Biography Inderpreet Singh Wadhwa  Renewable energy enthusiast that has over 20 years experience building large scale infrastructure projects, patenting application products, building Founder, Chairman and CEO profitable operations, and raising venture/pr
Slide 22: Glossary of Select Terms
Glossary of Select Terms Accelerated Depreciation – After March 31, 2017, accelerated depreciation can be elected at the project level, such that projects that reach COD in the first half of the year can expense 60% of eligible project costs in year 1, and otherwise can expense 30% of project costs
Slide 23: Investor and Media Contact
For recent financial results and portfolio overview, please refer to http://investors.azurepower.com/ Investor Contact Media Contact Nathan Judge, CFA Samitla Subba ir@azurepower.com pr@azurepower.com +1 (917) 209-6750 +91-11- 4940 9854 Investor Relations, Marketing, Azure Power Azure Power 23 | Cop

Azure Power Global — Investor Presentation (September 2017) on 6ix

Azure Power Global — Investor Presentation (September 2017)

Slide 1: Corporate Presentation September 2017

Slide 2: Disclaimer

Slide 3: Topics

Slide 4: Executive Summary

Slide 5: 5 4 | Copyright © 2017 Azure Power | www.azurepower.com

Slide 6: High Growth Indian Solar Market

Slide 7: Azure Power: A Unique Opportunity

Slide 8: Company At A Glance

Slide 9: Diversified Portfolio; 25 Year PPAs with High Quality Sovereign Backed Entities

Slide 10: Issued India's First Solar Green Bond

Slide 11: Powering Utilities, Commercial and Community Engagement

Slide 12: Market Overview: Solar to Fill the Energy Gap

Slide 13: The Solar Advantage; Lowest Cost, Most Reliable Resource with Greatest Potential

Slide 14: Federal Government's Capacity Addition Plan

Slide 15: Azure Power: Market Leading Solar Company

Slide 16: Local Expert with Global Reach

Slide 17: High Quality Assets & Declining Costs

Slide 18: Fully Integrated In-House Capabilities

Slide 19: Track Record of Land Procurement & Transmission

Slide 20: Experienced Leadership

Slide 21: Appendix

Slide 22: Glossary of Select Terms

Slide 23: Investor and Media Contact