AGEL’s Operational Capacity Grows at CAGR of 46% Over Last 3.5 Years

0
161
  • AGEL expands TOTAL JV with addition of 205 MW solar assets at EV of INR 1,632 Cr taking the total operating portfolio under the JV to 2,353 MW
  • AGEL’s total operational capacity grows to 2,800 MW at a CAGR of 46% over the last 3.5 years
  • Continue to operate Solar Portfolio at ~ 100% Plant availability
  • Sale of Energy up by 22% YoY at 1,187 mn units in Q2 FY21 & up by 23% YoY at 2,569 mn units in H1 FY21
  • Revenue from Power Supply up by 15% YoY at Rs. 530 Cr in Q2 FY21 & up by 12% YoY at Rs. 1,139 Cr in H1 FY21
  • EBITDA from Power Supply up by 19% YoY at Rs. 490 Cr in Q2 FY21 & up by 15% YoY at Rs. 1,050 Cr in H1 FY21
  • EBITDA margin from Power Supply expands by ~ 300 bps YoY to 92% in both Q2 FY21 & in H1 FY21
  • Cash Profit up by 80% YoY at Rs. 250 Cr in Q2 FY21 & up by 69% YoY at Rs. 593 Cr in H1 FY21 *

*Cash Profit is before deduction of distribution to TOTAL which is part of Finance Cost as per IndAS

Adani Green Energy Ltd. [“AGEL”], a part of the Adani Group, announced the financial results for the quarter and half year ended September 30, 2020. The Operational Performance Snapshot for the quarter and half year is given below:

Operational Performance:

ParticularsQuarterly performanceHalf yearly performance
Q2 FY21Q2 FY20% changeH1 FY21H1 FY20% change
Sale of Energy (Mn units)1,18797022%2,5692,08623%
Solar1,02592111%2,2061,98111%
Wind16249231%363105246%
       
Solar portfolioCUF (%)20.7%20.1%60 bps22.7%22.7%
Wind portfolioCUF (%)30.3%31.2%-90 bps34.8%33.5%130 bps
  • Sale of Energy for H1 FY21 increased by 23% YoY on the back of capacity addition of 630 MW, consistent Solar CUF and improved Wind CUF.
  • Solar CUF has remained steady for H1 FY21 at 22.7%, better than P75 target of 22.5%, supported by strong Plant availability of ~ 100% and consistent Solar irradiation.
  • Wind CUF has improved from 33.5% in H1 FY20 to 34.8% in H1 FY21 with improved Plant availability.

Financial Performance:

ParticularsQuarterly performanceHalf yearly performance
Q2 FY21Q2 FY20% ChangeH1 FY21H1 FY20% Change
Total Income7187121%1,5961,38715%
Revenue from Power Supply53046115%1,1391,01212%
       
EBITDA from Power Supply49041319%1,05091515%
EBITDA from Power Supply (%)92%89%~300 bps92%89%~300 bps
       
Cash Profit*25013980%59335269%

* Cash Profit is before deduction of distribution to TOTAL which is part of Finance Cost as per IndAS

  • Revenue and EBITDA from Power Supply in H1 FY21 have grown by 12% YoY and 15% YoY respectively primarily on the back of added capacities, steady Solar CUF and improved Wind CUF.
  • EBITDA from Power Supply has improved by 300 bps to 92% in both Q2 FY21 and H1 FY21 on YoY basis backed by improved plant availability leading to higher energy generation and optimization of O&M cost.


    AGEL expands TOTAL JV with addition of 205 MW solar assets at EV of INR 1,632 Cr taking the total operating portfolio under the JV to 2,353 MW:
  • AGEL has completed acquisition of the 205 MW operating solar assets from Essel group located in Punjab, Karnataka and Uttar Pradesh. This is the first acquisition of operating assets by AGEL.
  • AGEL has transferred these assets to its JV with TOTAL, a French Energy major with presence across 130+ countries, for EV of INR 1,632 Cr and TOTAL has invested Rs. 310 Cr in the JV pursuant to the transaction
  • The acquisition takes the total operating renewable portfolio under the JV to 2,353 MW

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.