Renew Energy Global Plc · NASDAQ:RNW
Renew Energy Global — ReNew Power — Debt Investor Presentation (September 2021)
43 slides from Renew Energy Global's debt investor presentation, Sep 14, 2021
Slide 1: India's Premier Renewable Energy Company - Bondholder Update
India’s Premier Renewable Energy Company Bondholder Update Presentation Sep 14, 2021
Slide 2: Disclaimer
Disclaimer The information contained in this document is strictly private and confidential and has been provided for informational purposes only. This document and the information contained herein may not be disclosed, reproduced or used in whole or in part for any purpose or furnished to any other
Slide 3: Our Vision and Awards
Our Vision: Great Place To Work World Economic Reuters Award 2021: One of India’s Forum Award 2021: 2020: “To Build the best workplaces in Oil, Global Lighthouse Clean Energy Best Renewable Gas and Energy Network of Transition Award category Companies Energy Company in the World” Largest Pure- Play
Slide 4: Contents
Contents 01 ReNew Power- Key 03 Highlights 02 Restricted Group- 04 Overview 4 03 Annexures 4
Slide 5: ReNew Power: Key Highlights
ReNew Power: Key Highlights 5
Slide 6: India's Largest Renewable Energy Company
India’s Largest Renewable Energy Company Large Scale 10.2 GW Capacity (2) Balanced Asset Mix Hydro, 0.1 GW, 1% 5.8 GW #1 Operational, Operating Capacity Renewable Energy 5.8 GW, Company in India (1) 57% US$727mn Solar, Total Income FY21 5.0 GW, #10 Wind, 49% Renewable Energy Committed (2) 5.2 GW, Co
Slide 7: Structural Overview
Structural Overview Existing Shareholders Pre- Offshore Transaction India Founder & ReNew Power Private CPP/ADIA/GS CCPS Limited (“RPPL”) SPAC Sponsor & Existing New Investors Shareholders PIPE Investors Post- NewCo Transaction Offshore India Founder and RPPL CPP CCPS shares 7 DISCLAIMER: The inform
Slide 8: ~75% of Post-Listing Shareholding Held by Existing Shareholders
~75% of Post-Listing Shareholding Held by Existing Shareholders Pre-Listing Shareholding Post-Listing Economic Shareholding % % at Closing (2) Employees and Founder Entities ex-employees 6.1% Management (1) 0.0% ESOPs (1) 0.9% GEF SACEF Management ESOPs 2.9% 1.0% JERA GS 8.0% Public Share- 35.3% hol
Slide 9: Experienced Board
Experienced Board Sumant Sinha, CFA Michael Bruun Anuj Girotra Projesh Banerjea Robert S. Mancini Founder, Chairman & CEO Non-executive Director Non-executive Director Non-executive Director Independent Director Renew Power Goldman Sachs CPPIB ADIA CEO & Director, RMG II; Chairman of Board of Direct
Slide 10: Key Highlights
Key Highlights One One of of the the Largest Largest Renewable Renewable Companies Companies 1 Globally, Globally, with with Leadership Leadership Position Position in in India India Stable, Contracted and Diversified Portfolio of 2 Assets Vertically Integrated IPP with Diverse Execution 3 Capabilit
Slide 11: Recent Updates To Business
Recent Updates To Business Signs India’s First Round-The- Commissioning of Clock Renewable Energy PPA 515 MW Capacity since Feb-21 • ReNew will set up 1,300 MW • 300 MW Wind project: PPA with SECI renewable energy capacity supplemented with storage for this • 110 MW Solar Project: PPA with SECI proj
Slide 12: Track Record of Efficient Capital Raise from Diverse Sources of Funding
Track Record of Efficient Capital Raise from Diverse Sources of Funding Consolidated O/S as on Mar21 # Type (USD mn) Percentage Outstanding Funding (31 March-21) (1) 1 Operational Project Debt 3,766 82% 2 U/C Project Debt 75 2% Working Capital Loan Total Project Debt 3,840 83% INR Bonds 1.2% 9.6% 3
Slide 13: Strong Revenue Growth and Stable Margins- Consolidated ReNew Group
Strong Revenue Growth and Stable Margins- Consolidated ReNew Group Total Income (US$mm) EBITDA² (US$mm) & Margin² 710 727 83% 83% 88% 87% 83% 639 615 607 467 560 371 386 614 675 676 308 467 351 FY18 Proforma FY19 FY20 FY21 FY18 FY18 Proforma FY18 FY19 FY20 FY21 Operating Revenue¹ Other income¹ EBITD
Slide 14: Restricted Group Overview
Restricted Group 1 Overview 4
Slide 15: Overview – Restricted Group I (IGPH 4% 2027)
Overview – Restricted Group I (IGPH 4% 2027) Portfolio Overview Capacity Wt. Avg. Project Stake (MW) COD1 Wind: 400.9 MW Solar: 110.0 MW Andhra Pradesh Total: 510.9 MW AP Solar 100% 60.0 Mar-2016 Ellutla 1 100% 44.1 Sep-2016 Gujarat Ellutla 2 100% 44.1 Dec-2016 (25.2 MW) (5%) Ellutla 3 100% 31.5 Dec
Slide 16: Financial Performance – Restricted Group I
Financial Performance – Restricted Group I (IGPH 4% 2027) Total Income (US$mm) EBITDA² (US$mm) & Margin² 88% 90% 90% 87% 101 90 93 88 88 84 79 79 80 83 77 69 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 Operating Revenue¹ Other Income¹ EBITDA² Margin Total Assets (US$mm) Net Debt³ and Networth (US$mm) $1
Slide 17: Overview – Restricted Group II (RPVIN 6.67% 2024)
Overview – Restricted Group II (RPVIN 6.67% 2024) Portfolio Overview Wind: 281.7 MW Capacity Wt. Avg. Solar: 354 MW Project Stake (MW) COD1 Rajasthan (161 MW) (25%) Total: 635.7 MW Karnataka 161 MW Ittigi 100.0% 50.0 Jan-2017 Raichur 100.0% 50.0 May-2017 Wadgera 100.0% 20.0 Dec-2017 Ladha 100.0% 20.
Slide 18: Financial Performance – Restricted Group II
Financial Performance – Restricted Group II (RPVIN 6.67% 2024) Total Income (US$mm) EBITDA² (US$mm) & Margin² 111 88% 87% 90% 85% 110 99 94 89 77 55 49 85 90 86 52 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 Operating Revenue¹ Other Income¹ EBITDA Margin Total Assets (US$mm) Net Debt³ and Networth (US$m
Slide 19: Overview – Restricted Group III (IGEH 5.375% 2024)
Overview – Restricted Group III (IGEH 5.375% 2024) Portfolio Overview Wind: 282 MW Capacity Wt. Avg. Solar: 100 MW Project Stake (MW) COD1 Rajasthan (25.6 MW) (7%) Total: 382 MW Karnataka 25.6 MW Nirlooti 100.0% 60.0 Mar-18 Bapuram 100.0% 50.0 Mar-18 Gujarat (12 MW) (3%) Chikodi 70.0% 18.0 Jun-13 12
Slide 20: Financial Performance – Restricted Group III
Financial Performance– Restricted Group III (IGEH 5.375% 2024) Total Income (US$mm) EBITDA² (US$mm) & Margin² 88% 88% 54 60 85% 90% 52 51 50 84% 85% 80% 40 75% 30 70% 21 52 50 47 45 20 46 43 65% 60% 20 10 18 55% 0 50% FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 Operating Revenue¹ Other income¹ EBITDA EB
Slide 21: Overview – Restricted Group IV (RPVIN 4.5% 2028)
Overview – Restricted Group IV (RPVIN 4.5% 2028) Portfolio Overview Wind: 753.1 MW Capacity Wt. Avg. Solar: 50 MW Project Stake (MW) COD1 Rajasthan (50.4 MW) (6%) Total: 803.1 MW Madhya Pradesh 50.4 MW Amba Ostro 100.0% 66.0 Mar-16 Lahori Ostro 100.0% 92.0 Mar-16 Gujarat (300 MW) (37%) Badoni Dewas
Slide 22: Financial Performance – Restricted Group IV
Financial Performance – Restricted Group IV (RPVIN 4.5% 2028) Total Income (US$mm) EBITDA² (US$mm) & Margin² 21 21 21 91% 100 89% 86% 100% 95% 90 90% 85% 80 80% 75% 70 70% 65% 60 60% 55% 50 50% 45% 79 77 74 40 80 40% 75 72 35% 30 30% 25% 20 20% 15% 10 10% 5% 0 0% FY19 FY20 FY21 FY19 FY20 FY21 EBITDA
Slide 23: Staggered maturities of Green Bond Issuances
Staggered maturities of Green Bond Issuances RPVIN 5.875% 2027 - $180mn IGEH 5.375% 2024 - $325mn RPVIN 5.875% 2027 - $270mn (Free Call wef 29th Jul 22) (Free Call wef 29th Oct 23) (Free Call wef 29th Jan 26) Sep-22 Mar-23 Mar-24 Apr-24 Feb-27 Mar-27 Apr-28 RPVIN 6.67% 2024 - $525mn RPVIN 4.5% 2028
Slide 24: Annexures
Annexures seaiti
Slide 25: Key Highlights
Key Highlights One of the Largest Renewable Companies 1 Globally, with Leadership Position in India Stable, Contracted and Diversified Portfolio of 2 Assets Vertically Integrated IPP with Diverse Execution 3 Capabilities Track Record of Disciplined Project Underwriting 4 with Focus on Risk Adjusted
Slide 26: #1 Utility-Scale, Pure-Play Renewable Power Generation Company in India
#1 Utility-Scale, Pure-Play Renewable Power Generation Company in India and #10 Largest Globally Largest, Pure-Play Renewable Energy One of The Largest Renewable Energy Producers Globally Provider in India Net Capacity in MW (Operational + Late-Stage Pipeline) (1) Net Capacity in MW (Operational + l
Slide 27: Consistent Track Record of Market Share Growth Over Long Term
Consistent Track Record of Market Share Growth Over Long Term ReNew has Successfully Grown its Capacity 2.8x Since FY2017 vs Industry Growth of 1.5x FY2012 FY2016 FY2018 FY2020 Commissioned 1st Started in-house Solar Acquired Ostro Energy Started self O&M for wind; project with 25.2 MW, EPC and O&M
Slide 28: Scale Provides Competitive Edge in Fast Evolving Market
Scale Provides Competitive Edge in Fast Evolving Market 1 Ability to negotiate favourable terms from OEMs and other suppliers Technical expertise, track record and scale to win complex bids Access to diversified funding sources enhancing cost competitiveness Pan-India presence to identify and execut
Slide 29: Key Highlights
Key Highlights One of the Largest Renewable Companies 1 Globally, with Leadership Position in India Stable, Contracted and Diversified Portfolio of 2 Assets Vertically Integrated IPP with Diverse Execution 3 Capabilities Track Record of Disciplined Project Underwriting 4 with Focus on Risk Adjusted
Slide 30: Stable and Long-term Contracted Cash Flows with High Quality Counterparties
Stable and Long-term Contracted Cash Flows with High Quality Counterparties Long Term PPAs Provide Stable Cash Flows High Quality Counterparty Mix (2) Contract Duration (1) Offtaker Profile Others 8-20 Years Private 9% 8% 5% Gujarat 5% Madhya Pradesh Central 6% Agency Andhra 49% Pradesh 8% Karnataka
Slide 31: Key Highlights
Key Highlights One of the Largest Renewable Companies 1 Globally, with Leadership Position in India Stable, Contracted and Diversified Portfolio of 2 Assets Vertically Integrated IPP with Diverse Execution 3 Capabilities Track Record of Disciplined Project Underwriting 4 with Focus on Risk Adjusted
Slide 32: Fully Integrated Platform with Comprehensive Project Execution Capabilities
Fully Integrated Platform with Comprehensive Project Execution Capabilities Site Selection • Access to multiple data sources such as ReNew’s own 116 met-masts (1) across 84 sites and • Performance data from 5.7 GW of wind and solar operating projects Development • Visibility on 40,000 acres of land
Slide 33: Digital Analytics to Manage Projects and Drive Cost Efficiencies
Digital Analytics to Manage Projects and Drive Cost Efficiencies REMOTE ASSET ENERGY MANAGEMENT RECOGNITION BY WORLD MONITORING AND SERVICES ECONOMIC FORUM MAINTENANCE • Acquired Climate Connect in June • ReNew Power Diagnostics Centre • Addition to the World Economic 2020 to give ReNew access to en
Slide 34: Pioneering Development of Intelligent Energy Solutions
Pioneering Development of Intelligent Energy Solutions FLEXIBLE ON-DEMAND STORAGE B2B ENERGY SERVICES SOLUTIONS • Round The Clock (RTC) and peak • Built the largest pipeline of utility • Corporate PPA market is gaining power projects to be mainstay of scale battery energy storage traction and is gro
Slide 35: Investment Across Green Energy Value Chain
ReNew Continues to Be Focused on Growing Through Investment Across “Green” Energy Value Chain Efficiency Core Business Who to sell Gains Backward Forward Integration integration Distribution for more to create control over more RE Corporate supply demand PPAs Manufacturing Generation - RE & Storage
Slide 36: Key Highlights
Key Highlights One of the Largest Renewable Companies 1 Globally, with Leadership Position in India Stable, Contracted and Diversified Portfolio of 2 Assets Vertically Integrated IPP with Diverse Execution 3 Capabilities Track Record of Disciplined Project Underwriting 4 with Focus on Risk Adjusted
Slide 37: Strong Track Record of Disciplined Bidding Focused on Profitable Growth
Strong Track Record of Disciplined Bidding Focused on Profitable Growth Strict Project Underwriting Over the Years Resulting in Compelling Risk Adjusted Returns (1) Capacity Bid by ReNew 54.9 GW Maintaining high level of Selective bidding highlights disciplined approach and discipline in bidding thr
Slide 38: Key Highlights
Key Highlights One of the Largest Renewable Companies 1 Globally, with Leadership Position in India Stable, Contracted and Diversified Portfolio of 2 Assets Vertically Integrated IPP with Diverse Execution 3 Capabilities Track Record of Disciplined Project Underwriting 4 with Focus on Risk Adjusted
Slide 39: ReNew is Leading Energy Transition in India
ReNew is Leading Energy Transition in India and is Committed to the Global Sustainable Development Goals Partnerships with Our ESG Initiatives Environment • Mapping Scope 1, Scope 2 and Scope 3 emissions • Achieving “Net Zero” by 2050 • Adopted Dupont Safety Guidelines Signatory to • Benefitting com
Slide 40: Impacting Communities with Sustainability Initiatives
Impacting Communities with Sustainability Initiatives ReNew Women India Initiative (ReWIN) Lighting Lives – Electrification of Schools Community-Based Water Management ReNew Scholarship for Exceptional Talent (ReSET) 40 DISCLAIMER: The information presented here is only indicative in nature not subj
Slide 41: Key Highlights
Key Highlights One of the Largest Renewable Companies 1 Globally, with Leadership Position in India Stable, Contracted and Diversified Portfolio of 2 Assets Vertically Integrated IPP with Diverse Execution 3 Capabilities Track Record of Disciplined Project Underwriting 4 with Focus on Risk Adjusted
Slide 42: Led by a Visionary Founder and a Highly Experienced Management Team
Led by a Visionary Founder and a Highly Experienced Management Team Lighting Lives – Electrification of Schools Sumant Sinha D Muthukumaran Balram Mehta Sanjay Varghese Mayank Bansal Founder, Chairman and Chief Financial Chief Operating President, Solar Chief Commercial Officer CEO Officer Officer 1
Slide 43: Thank You
Thank You seaiti
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