Investor Presentation
Market Opportunity
450 GWs of Opportunity By 2030
~30 GWs per year
Azure Power
India's 450GW Renewable Energy Capacity
Addition Roadmap (1)
Electricity Usage per Capita (MWh) (2)
Solar is the Lowest Cost Source of Power (3)
CAGR: 32%
13.1
450
US: ~13x > India
China: ~5x > India
4.9
INR/kWh
Tariff (INR/kWh)
100
2.00
2.56
2.99
37
1.0
4
2015
Dec'2020
2022E
2030E
USA
China
India
Solar Spot
Wind Coal
Gas Diesel
price
Expect ~25 GWs of new capacity auctions in India
by end of CY'21
1)
Economic Times
2)
CEA Report 2019, Statista - Worldwide consumption of electricity by countries (Study published Sept 2020)
Recent auctions indicate mid-teen equity returns
3) Solar is L1 of November 2020 SECI Auction: Spot Electricity Price - IEX October 2020 average: Wind - L1 2 GW SECI auction August 2020: Coal, Gas, Diesel tariffs are from Lazard LCOE Study Nov 2019
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