Adani Green Energy Limited

Renewables - Attractive Industry Outlook Low Per Capita Power Consumption Untapped Solar and Wind Resources Potential Installed capacity in GW (Apr-2019) Per capita power consumption (kWh) 12,984 10,059 World: -2.7x India >> US: 11.3x India 749.0 28.2 GW expected China: -3.4x India to increase at -59% CAGR to 113.5 GW by FY22E USA Australia Germany China World 7,035 102.8 3,927 3,125 2,875 35.6 25.1 9.2 19.7 4.6 MENA Mexico India 2,090 1,149 28.2 Solar Wind Bio-Power Small Hydropower Low Generation Share Hydro 10.0% Renewable 8.0% Nuclear 3.0% adani Renewables Thermal 79.0% Aggressive Renewable Roadmap Wind Solar Other renewables -78 GW Renewables - A Competitive Power Source Solar tariff Bids for New projects CERC APPC for FY 20 Rs 3.60 / KWh -227 GW 3.2 2.7 2.4 2.5 2.4 2.5 47 -3.5x growth -4.0x growth 114 28 36 -1.9x growth 67 FY19 14 FY22 Apr-17 May-17 Dec-17 Jul-18 Mar-19 Aug-19 Attractive Source of Energy India's high import dependency for energy needs High irradiation & low resource risk Aggressive growth targets set by Government ✓ Signatory to Paris Accord Stated commitment to install -227 GW of renewable capacity □ Complementary load profile of Wind & Solar Source: CRISIL; Notes: RPO - Renewable Purchase Obligation 20

View entire presentation