january 2017 - adani · pdf filedevelopments in their business, ... solar power to be dominant...
Post on 23-Mar-2018
215 Views
Preview:
TRANSCRIPT
2
Disclaimer
The directors and management of Mundra Solar PV Limited ("Company") advise that the information contained in this presentation is current as on the date of publication. The Company makes no representation that all information relating to the Company has been included in this presentation and the Company undertakes no obligation to update any of the information contained in this presentation. Certain statements made in this presentation relates to future outlook and growth prospects, and future developments in their businesses and their competitive and regulatory environment, and statements which may contain words or phrases such as ‘will’, ‘expected to’, etc., or similar expressions or variations of such expressions. Actual results may differ materially from these statements due to a number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in India. With the exception of the formal announcements issued by the Company, the Company takes no responsibility for the content or accuracy of any information which appears on the Company presentation. This information is extracted from various publications and is included in the Company presentation for the convenience of customers, shareholders, investors and other users
and the Company makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. Further, Company assumes no responsibility to publicly amend, modify or revise any statement made in presentation, on the basis of any subsequent development, information or events, or otherwise. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation and the information contained in the presentation is subject to change without notice and past performance is not indicative of future results. Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. All material provided in this presentation is for information only and is not intended to constitute an offer or solicitation with respect to any securities issued by the Company. The Company accepts no liability whatsoever for any loss arising directly or indirectly from the use of, or reliance on, any information contained in this presentation or for the omission of any information relating to the Company.
3
Solar Energy : Critical for Global & Indian energy needs
Adani Solar : 3 GW Integrated PV player in making
Our differentiation
Our product range & advantages
Adani Group’s credentials = Long term commitment
Contents
4
125 7 6 11
1516
18 2124
35
6 7
815 20
2732
42
7 7
7
7
8
8.413.7
19.5
22.7
32
0
20
40
60
80
100
120
140
2016 2017 2018 2019 2020
USA China India
UK + Germany Japan Rest of EU
De
ma
nd
pro
jec
tio
n (
GW
) CAGR ~ 17%
Solar power to be dominant energy source in future
As per IEO, solar capacities will grow at the double digit growth rate while coal and gas capacities will stagnate
5
37457500
15000
25000
37500
55000
75000
100000
0
20000
40000
60000
80000
100000
120000
2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
Cu
mu
lati
ve
Ca
pa
cit
y (
MW
)
India Cumulative Solar Capacity (MW)
Projected Capacity
Indian Solar sector to follow similar growth trends Incremental installation is in line with ambitious country level targets
To achieve such an ambitious target, India is projected to install average 15,000 MW of solar capacity annually
6
Significant fall in module costs lead to demand revival
Key drivers : Improved economics & decentralization
Solar will encourage decentralized applications
As a dominant energy sector player, Adani group is committed to the development of an economical , efficient and accessible energy source – Solar power
Tier 1 – China Global ASP for Modules ($/W)1
Source: GTM Research – PV Pulse, October 2016
Developed countries exhibit higher growth in distributed solar compared to utility scale
$0.32
$0.52
$0.46
$0.41
$0.46
$0.43 $0.46
$0.42
$0.37
$0.37
$0.34
$0.30
$0.35
$0.40
$0.45
$0.50
$0.55
Q2 2016 Q32016E
Q42016E
Q42017E
Q42018E
Q42019E
Q42020E
Base Case High Case Low Case4 5 5 5 6 3
4 3 4 5 1 1 1
2 3
6
10 6
8
11
0.3
0.4
2
3
4
2
4 6
5
4
5
2 9
5
6
0
5
10
15
20
25
30
35
40
2016 2017 2018 2019 2020
Europe US Rest of Americas China India Japan RoW
Sm
all-s
ca
le P
V C
ap
ac
ity A
dd
itio
ns
(GW
)
21
38
7
Solar Energy : Critical for Global & Indian energy needs
Adani Solar : 3 GW Integrated PV player in making
Our differentiation
Our product range & advantages
Adani Group’s credentials = Long term commitment
Contents
8
Large scale integrated solar PV manufacturing
Large sized solar power generation capacities at single location
+
To harness global solar opportunity there is a need to reduce cost across value chain
Visibility and demand for solar modules/cells
Increased availability of low cost solar modules/cells
Strengthening of power infrastructure Higher exports and forex earnings
Adani Solar’s large scale manufacturing plans will support low cost generation capacities and develop export capabilities from India
Adani Group aims to play significant role in global PV generation & manufacturing business
9
We plan to build one of the world’s largest integrated solar PV manufacturing facilities in Mundra by 2020…
Our group is developing a world class electronics manufacturing cluster (EMC) in Mundra. Most of the common facilities will be ready in Q1 2017
2016 2017 2018 2020
Cell Wafers Modules Ingot Polysilicon
10
…& have completed Ph. 1 facility for 1.2 GW Cell + Module Further capacity and capability roll-out in phases; completion by 2019-20
• State of art facility (3 floor architecture ) built in a year
• Best in class equipment from European suppliers
• Energy efficient building with IGBC Platinum rating
11
Solar Energy : Critical for Global & Indian energy needs
Adani Solar : 3 GW Integrated PV player in making
Our differentiation
Our product range & advantages
Adani Group’s credentials = Long term commitment
Contents
12
Adani’s commitment to technology, scale and cost leadership helps us differentiate
Adani Unique
Advantages
Long Term Reliability
Process Control & Quality Excellence
Cost Competitiveness
1
2
3
13
Our operational practices and quality assurance enable superior product reliability
• Leading QMS and excellent product quality assurance
• Triple stage Electro-luminescence inspection
• Working on the principle of lean manufacturing
• Co-locating ancillaries to achieve strict quality control
• Tie-ups with leading global institutes (ISC, UNSW, PI Berlin, Fraunhofer etc.) for material and process improvements
• Dedicated R&D center to enable continuous upgrading of lines as per latest developments
• Process based on Just-In-Time procurement enabled by raw material tie-up through tolling / LTA
• Strong inbound and outbound logistics management team
1
14
We have a strong and experienced team to ensure long term process sustenance
2140
600
560
Team experience (in man years)
480
Operations and Maintenance
SCM & Marketing
Projects
Additional Services
Our team has ~3,800 man years experience in the sector
2
Key Functions
15
Technical Reliability
• World class manufacturing
and testing equipment
• Strategic tie-ups with prominent technology partners across the world
Operational Reliability
• Experienced management
and leadership team
• Operations team with a wealth of industry knowledge
Financial Reliability
• One of the strongest
balance sheets of any organization in India
2
Investments have been made with long term reliability as the objective
Adani Solar is the better and reliable choice; technically, operationally and financially
16
Levers to stay competitive
Investments in ancillary units
High level of automation
Long term supplier relationships
Large scale of operations
Regulatory financial support
Low taxes/duties in SEZ location
3
Future investments in vertical integration and BOS components will enhance cost leadership
17
• Adani Solar can access cheaper raw
material and enable supply of high quality PV products to more lucrative markets due to our unique location
• Adani ports are the most efficient and
have the quickest turnaround time when compared globally
Ideal locations to support supply chain needs of modern PV manufacturing industry
Leading to cost competitiveness for export oriented PV manufacturing
We are uniquely located to leverage economic raw material from the east and supply to the west
3
Western Europe
Central Asia
West Africa
East Africa
India
China
18
Solar Energy : Critical for Global & Indian energy needs
Adani Solar : 3 GW Integrated PV player in making
Our differentiation
Our product range & advantages
Adani Group’s credentials = Long term commitment
Contents
19
Product range : Multi-crystalline modules for large scale and rooftop PV installations
• Available in 60 cell or 72 cell format
• 60 cell module power output: 255 – 270 Wp
• 72 cell module power output: 310 – 325 Wp
• Temperature co-efficient one of the lowest in the industry
• Excellent low-light intensity performance
• 72 cell 1500V rated variant for large scale installations enabling up to 30% more string length
Certifications:
20
Product range : Mono-PERC modules for higher efficiency and better rates of return
• 60 cell module power output: 275 – 300 Wp
• 72 cell module power output: 335 – 350 Wp
• PERC1 technology enables higher output in adverse conditions and lower BOS costs
• 72 cell 1500V rated variant for large scale installations enabling up to 30% longer strings
• 60 cell AC module variant with integrated micro-inverter enabling 12% higher AC output
• 60 cell Smart module variant with integrated power-optimizer to avoid shading/soiling losses
Certifications:
1) All mono cells are enhanced with Passivated Emitter Rear Contact (PERC) technology
21
Product range : Mono1 bi-facial dual-glass modules for best-in-class output, highest possible IRR and aesthetics
• 60 cell module power output: 285 – 290 Wp
• 72 cell module power output: 345 – 350 Wp • 360 Wp equivalent output with up to 85% bi-
faciality factor
• 1500V rated variant for large scale installations saving up to 5% of BOS costs
• Degradation limited to 0.4% per year compared to standard of 0.7%
• Near zero Light-Induced Degradation (LID) through use of N-type cells
Certifications:
1) All mono cells are enhanced with Passivated Emitter Rear Contact (PERC) technology
22
Our modules offer extra power through higher binning compared to industry average
Savings Comparison of Adani – 72 Cells bifacial module (350 Wp) with industry average of 305 Wp module
Reduces Land Cost by up to
8%
Reduces Transport Cost by up
to 7%
Reduces BOS Cost by up to
7%
Reduces Installation Cost by up
to 4%
23
Our rigorous testing regime ensures the best field performance from our modules
Dynamic Load Test replicating real life conditions over 25 years
HAST testing involving accelerated humidity and temperature stress
Certified to withstand extreme snow and wind loading
Linear warranty for optimal performance over 25 years
Designed for easier installation with a variety of mounting options
Up to 8% higher energy delivery with Mono-PERC modules
24
Solar Energy : Critical for Global & Indian energy needs
Adani Solar : 3 GW Integrated PV player in making
Our differentiation
Our product range & advantages
Adani Group’s credentials = Long term commitment
Contents
25
Adani is focused on becoming a comprehensive, integrated global energy player
Energy
Generation/ 10,852 MW
5,051 c. Km
Revenue : ~$12 Bn.
Presence : 50+ countries
Human Capital >11,000
Key Highlights
Resources 88 MMT Commodity Trading
Logistics 152 MMT Port Cargo Handled
Core Business Verticals
Plans and achievements
2016
30,800 MW
~13,000 c. Km
200 MMT
330 MMT
2021 E
Largest private player
Largest commodity
trader
Largest port
capacity by cargo
Transmission
India’s largest
Integrated power player
Adani Group is a vertically integrated energy player with assets of ~US 21 Bn
26
Adani has demonstrated fastest and consistent growth in revenues and profits
Built in a short span of 25 years into one of India’s top business houses
Revenues (in $ Million)
Assets (in $ Million)
EBIDTA (in $ Million)
2013 2012
18,133 19,041
2013 2012 2015
1,271
1,084
2,129
2014
17,347
2014
1,700
2015
18,571
8,700
7,800
10.483
2013
2012
2015
9,384 2014
12,179 2016
2016
21,963
2016
2,895 CAGR : 13% CAGR : 27% CAGR : 41%
27
We plan to have ~20 GW of RE generation capacities by 2022 leading to strong in-house demand
This pipeline will be spearhead for the solar manufacturing business
Mission 2022: 20,000 MW
Project Includes:
• Solar Power Generation Plants
• Solar Parks / Zones
Solar Parks will be open for other players to set up their solar power generation units
All Units in MWAC
Gujarat (Solar Park)
Rajasthan (Solar Park)
Uttar Pradesh
100
100
Commissioned
Under Construction
Under Implementation
Telangana
100
100001
130001
Karnataka
790
Punjab
Jharkhand
50
50
Andhra Pradesh
World’s largest Solar
plant in Tamil Nadu,
648 MW
Bitta, Gujarat
40 100
Chhattisgarh
Maharashtra
20
20
Rajasthan
1 – These are proposed solar parks Note: Projects as of Q3 CY 2016
28
Project 648 MWp Ultra Mega Solar Power project
Site Location District – Ramanthpuram
Nearest Airport Domestic – Madurai (approx. 90km from Site)
Nearest Road Porthbanur – Kamuthi – Arruppukottai Road (Adjoining)
Nearest Port Tuticorin Port, approx. 110km
Nearest Railway Station
Tiruchuli, Tamil Nadu (approx. 25km from site)
Seismic Condition
Seismic Zone – III
Irradiation 5.27kWh/Sqm/day
Soil type Black cotton soil
Feed-in-Tariff INR 7.01/kWh (for 25 years)
Success Story: Largest Solar Plant in Single Location – Kamuthi (648 MW)
top related