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Date: March 01, 2021 to BSE Limited the National Date: March 01, 2021 To BSE Limited The National Stock Exchange of India Limited P J Towers, Dalal Street, Bandra Kurla Complex, Mumbai 400 001 Bandra (E), Mumbai 400 051 Scrip Code: 541450 Scrip Code: ADANIGREEN Dear Sir, Sub: Intimation of Analysts / Institutional Investors Meeting - Presentation Dear Sir, Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and in furtherance to Company s intimation dated February 23, 2021, the presentation for the Debt Conference is enclosed herewith and also being uploaded on website of the Company www.adanigreenenergy.com. You are requested to take the same on your records. Thanking You Yours Faithfully, For, Adani Green Energy Limited Pragnesh Darji Company Secretary Adani Green Energy Limited Tel +91 79 2555 5555 Adani Corporate House, Shantigram, Fax +91 79 2555 5500 Nr Vaishno Devi Circle, S G Highway [email protected] Khodiyar, Ahmedabad 382 421 www.adanigreenenergy.com Gujarat, India CIN: L40106GJ2015PLC082007 Registered Office: Adani Corporate House, Shantigram, Nr. Vaishno Devi Circle, S G Highway, Khodiyar, Ahmedabad 382 421, Gujarat, India Renewables Adani Green Energy Limited DEBT PRESENTATION February 2021 1 CONTENTS 1 Adani Group 2 AGEL: Company Profile 3 AGEL: Transformational Advantage 4 AGEL: ESG 5 Renewable Growth Story & Investment Rationale Appendix Renewables 3 Adani Group Adani Group: A world class infrastructure & utility portfolio Transport & Logistics Portfolio Adani Energy & Utility Portfolio Adani 63.5% 100% 75% 55% Marked shift from B2B to B2C businesses - APSEZ SRCPL ATL AGEL Port & Logistics Rail T&D Renewables ATGL - Gas distribution network to serve key 100% 75% 37.4% geographies across India 3 NQXT 2 75% APL ATGL AEML - Electricity IPP Gas DisCom distribution network that AEL powers the financial capital of Incubator India Adani Airports - To operate, manage and develop eight 100% 100% 100% 100% airports in the country AAHL ATrL AWL Data Airports Roads Water Centre Locked in Growth 2020 - Transport & Logistics - ~USD 76 bn 1 Airports and Roads Combined market cap Energy & Utility - Water and Data Centre Opportunity identification, development and beneficiation is intrinsic to diversification and growth of the group 1 . As on Feb 19 , 2021, USD/INR 72.6 | Note - Percentages denote promoter holding 2. NQXT North Queensland Export Terminal | Light purple color represent public traded listed verticals 4 3. ATGL Adani Total Gas Ltd Adani Group: Decades long track record of industry best growth rates across sectors Port Cargo Throughput (MT) Renewable Capacity (GW) Transmission Capacity (ckm) CGD7 (GAs8 covered) 161% 12% 21% 45% 2.5x 6x 3x 1.5x 30% 5% 7% 25% Industry APSEZ Industry AGEL Industry ATL Industry AGL 2014 972 MT 113 MT 2016 46 GW 0.3 GW 2016 320,000 ckm 6,950 ckm 2015 62 GAs 6 GAs 2020 1,339 MT 223 MT 2020 114 GW 14.8 GW6 2020 423,000 ckm 14,739 ckm 2020 228 GAs 38 GAs APSEZ AGEL ATL ATGL Highest Margin among Worlds largest Highest availability Peers globally developer among Peers CGD business 1,2 1,4 EBITDA margin: 70% EBITDA margin:89% EBITDA margin: 92%1,3,5 EBITDA margin: 31%1 Next best peer margin: 55% Among the best in industry Next best peer margin: 89% Among the best in industry Transformative model driving scale, growth and free cashflow Note: 1 Data for FY20; 2 Margin for ports business only, Excludes forex gains/losses; 3 EBITDA = PBT + Depreciation + Net Finance Costs Other Income; 4 EBITDA Margin represents EBITDA earned from power sales and exclude other items; 5. EBITDA margin of transmission business only, does not include distribution business. 6. Contracted & awarded capacity 7. CGD City Gas distribution 8. Geographical Areas - 5 Including JV | Industry data is from market intelligence Adani Group: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Origination Site Development Construction Operation Capital Mgmt Redesigning the Analysis & market Site acquisition Engineering & design Life cycle O&M capital structure of intelligence planning Concessions and Sourcing & quality the asset regulatory agreements levels Asset Management Viability analysis Operational phase Activity plan Strategic value Investment case Equity & debt funding funding consistent development at project with asset life Largest Longest Private HVDC Largest Single Location 648 MW Ultra Mega In FY20 issued 7 international Commercial Port Line in Asia Private Thermal IPP Solar Power Plant bonds across the yield curve (at Mundra) (Mundra Mohindergarh) (at Mundra) (at Kamuthi, TamilNadu) totalling~USD4Bn Constructed and Highest Margin Highest line High declared Commissioned in All listed entities maintain among Peers availability capacity utilization nine months liquidity cover of 1.2x- 2x as of 89%1 a matter policy Performance 14% 33% 47% 31% 55% 20% March 2016 March 2020 PSU Pvt. Banks Bonds 1. FY20 data for commercial availability declared under long term power purchase agreements 6 Total Portfolio Diversified Portfolio ESG 14,815 MW 1 11 states Development Pure-play Solar & Wind Assets 3,245 MW in Operation 72% solar; 11% wind; 17% wind-solar hybrid 2970 MW in Ramp-up 8,600 MW Awarded Pipeline 100% Contracted Capacity Counterparty profile2 EBITDA margin 3 Fixed tariff Sovereign: 78% Operations PPA life: 25 years Tariff profile State DISCOMs: 15% 89% Average Portfolio tariff: INR 3.24/unit Non-govt.: 7% Efficient Capital Management Monetization (DBFOT4) Investment Grade (IG) Ratings 5 Value Creation Access to International markets 50% stake First IG rated Issuance bought by TOTAL SA in Diversified sources of funding Endeavor to maintain IG rating in Elongated maturities up to 20 years Operational Solar Projects First phase - 2,148 MW all future issuances Second phase - 205 MW Note: 1. Includes 50*3 MW of wind projects under-acquisition from Inox and 20 MW solar power plant under acquisition from Hindustan Powerprojects 2. Based on estimated revenue-mix on fully built-up basis for overall portfolio of 14.8 GW 3. EBITDA margin from power supply in FY20 4. Design Build Finance Operate Transfer 5. TOTAL SA invested INR 3707 Cr in the first phase and INR 310 Crore in the second phase towards 50% stake and other instruments in the JV that houses these assets 7 PPA - Power Purchase Agreement ; AGEL: Adani Green Energy Limited Renewables Adani Green Energy Limited Company Profile 8 AGEL: Transformational Renewable Company Largest Listed 3,245 MW Operational sites identified & Renewable Site Plan Over 30 GW Company in India + 2,970 MW ramp up in 5 12 months under acquisition Development 8,000 MW Solar Upcoming Over 11,000 MW in pipeline Pipeline 600 MW Hybrid Tenders Under ramp up Development Pipeline Total 50% Adani 50% 2,970 MW 8,600 MW Adani TOTAL JV Operational Solar Operational Assets 2,353 MW Solar - 495 MW 1 Wind 397 MW 2 Solar 50 MW Solar 8,000 MW RG 1 RG 2 TN SPVs Other SPVs Wind 1,230 MW Hybrid - 600 MW 930 MW 570 MW 648 MW 205 MW Hybrid 1,690 MW ital Management 1. Includes 20 MW solar plants under acquisition from Hindustan Powerprojects 2. Includes 150 MW wind assets under acquisition from Inox 9 RG1: Restricted Group 1, RG2: Restricted Group 2 AGEL: Large, Geographically Diversified Portfolio 14,815 MW Portfolio 1 | 3,245 MW operational Average AGEL tariff below APPC 2 APPC @ 3.60/kWh Operational Under Implementation Wind Solar 4 2 7 3 0 2 Solar-Wind Hybrid 5 4 . 2 2 3 2 2 3 2 130 Apr'17 Dec'17 Jan'18 Aug'18 Jun'20 Dec'20 AGEL 50 345 Portfolio Avg. Lowest Tariff discovered in renewable bidding across months Tariff 470 6,090 485 12 78% Resource and Presence across 5,430 100 Sovereign Counterparty 11 resource-rich states Counterparties Diversification 13 different counterparties 20 100 885 50 100% Fully Contracted Contracted 25-year fixed tariff PPAs portfolio Portfolio Presence across 648 multiple states reduces resource risk Ranked as Largest Solar Power Developer in the World by US based MERCOM Capital 1 Includes 150 MW wind assets under acquisition from Inox and 20 MW solar plants under acquisition from Hindustan Powerprojects 2 APPC: National average power purchase cost 10 AGEL: Transformational Advantage 11 AGEL: Development and de-risking philosophy Resource Assessment Land Identification Design Optimisation Origination 85+ Wind locations 2,00,000+ acres land ~10% Cost Efficiency identified identified across India Land Acquisition Statutory Approvals Transmission Connectivity Development 1,00,000 acres of Land Stage-I connectivity 100% of sites under under Acquisition Approval for Prospective execution Land is already obtained Engineering Supply Chain Management Site Execution Centre of Excellence Experience of Construction 20,000+ Vendor Base Project Management & execution at 320+ sites Control Group (PMCG) across India across India De-risked for Potential pipeline 12 AGEL - Case study : ~ 15,000 MW site at Khavda, Gujarat State Site area 2.7x of Paris City Over 3 years of on site resource Resource Assessment estimated Solar potential map - Gujarat 70,000 acres of land Land Acquisition allotted by Govt. Construction Geotech studies and logistics infra Readiness completed Wind potential map - Gujarat Technical Detailed design planning and Studies simulations completed Supply Chain Detailed Supply chain planning is development completed Source : Solar GIS, Global Wind Atlas; RE stands for Renewable energy De-risked GW scale construction and operational plan 13 AGEL: Operational Excellence driving Value Traditional Approach Plant level
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