Azure Power Global Limited Equity Shares

Q4 2021 Earnings Conference Call

6/16/2021

spk_0: the even gentlemen good day and welcome to the as a father fiscal fourth quarter twenty twenty one owning conference call as a reminder all participant lines will be in the listen only mode and they will be an opportunity for you to ask questions after the presentation concludes should you need assistance during the conference call please signal and operate over briefing star than zero on you touched on phone please note that this conference has been recorded i know how the conference or to midst of a cost benefit from as you follow thank you and or do you so
spk_1: thank you and good morning everyone and thank you for joining or on to be in the company issued a paper and i'm going to go for the both with a quarter of two hundred twenty one ended march thirty bucks when you're going to be one
spk_2: a copy of the berkeley and representation are available on been the complexion of up by would be right or to go by dot com with me today aren't you good for you
spk_1: what do you cook them a new the over and don't come on to go vehicle you've got the call by going to rethink key highly motivated than on your with an update on our project under construction technology innovation and then industry a big on will then provide an update on the border with additional discussion on performance of the cotton and bender go grab the corn with ended up dating and frequently to great and and providing or one effort don't you to great after the really open up the qualifications we've known about the public statement are contained within our properly presentation with you and available on our website the statement are important and integral to all our enough be that is an unfair to do that could cause i would love to differ materially from do that for the don't play by such forward looking statements so we encourage you to review the better leave with wonders in a complex gay and precondition on our website for more complete description
spk_2: also contained in l a perfectly good and teaching materials and and ripple effect and don't get major that really confined to the most comparable get measure and degree completions are also available to reflect in the pic really and presentation materials and and little book
spk_3: it is now my pleasure to headed over to the news
spk_1: thank you rica
spk_2: and a very good morning everyone i would like to start to these calls offering condolences to everyone impacted by called it we faced the pandemic the ugliest fees and india during april and may twenty twenty one been almost no family was left untouched in some way or the other they call it goodbye did that we're now seeing daily infections or feet and other vaccination davis big debates with over two hundred and sixty million doses administered the late at as your we have to bad employed and stakeholders in the fight against the pandemic and have been following on good protocol to vegas during the second wave we undertook a number of initiatives to supplement the medical infrastructure in and around the area of the operate we donated toti blood oxygen concentrated to healthcare facilities in the states of like the time you peek not a guy in other states applied thirty bypass machine to our healthcare facility at beacon is supplied of thing he does he be good mosques and other things to the medical items were number of facilities as for the requirement within the company to help party members be strengthened doctor badness to respond to medical imaging to cease fire employees or the family members by implementing a cohort based support group for government or fifteen oxygen cylinder distributed across a video sites and both using a number of oxygen content they do for our own use pleased that strategic locations we continue to retain support of a qualified medical detectors know for any medical advice to our employees and their family members have also implemented a company subsidise dome instance came to support the economic needs of our families and gives have any unfortunate event i'm especially proud of the cool hot based group were in be created a pyramid of contact the about eating out to every team member every day to plaque there and eight families health gliding help they need it the v the team game together on several occasions to help a team member in his or her out of needles exemplary and truly demonstrated the strength of our jos fifteen ability and he is he a key to success of our business adagio be highlighted i'll or forty five thousand and one certification last quarter which demonstrates as your focus on occupational health and safety and validates additional effort you put in to make our workplaces fussy for a team member that contractors in december and the cia the leading years you dating agency rated as your power a double a for years leave this place places us in the top quarter of all global utilities to cover and probably among the highest ratings among the appeared in a country we continue to save to what into a photo on the sleeping i'm happy to report that we have entered into an agreement to sell out of stock portfolio to radiance noodles forum and debate value of approximately us dollar seventy three million this is the first ever acid sale in as your powers history and signify that commitment towards capital disciplined by the recycling capital into higher return committed projects and didn't with the philosophy i'm happy to report that you're seeking to increase either side addressable market by falling into other areas of renewable energy specially wind and solar wind hybrid project we have participated in a couple of options already and will look to have something more concrete sooner than later as the share of renewable energy in the grid increases the realize their the business move towards more respectable energy as the industry moves towards providing for power to the grid wyndham storage will be too important technology additions we have to plan for our portfolio i had mentioned demetri goodson marks how green hydrogen and plummeting storage costs have the potential to the sept of a car industry we had in the process of critically examining our business and good strategy as the go along that endeavor to be on the right side of the evolving a new bill industry landscape we're continuously you evaluating deploying new techniques and technology other projects to do the dance be assured are valued investors that be the continue to be disciplined do not approach and we keep all of you posted as he take steps in the territory today we have twenty percent more megawatts operating than we did at the same time last year excluding the rooftop portfolio i'd operating assets are performed well and not only have been able to continue collecting they have you didn't spend any the even into the collections without the thought at hundred and fifteen days at the end of the quarter compared to hundred and twenty two days at the same time last year we have controller costs and gas dna excluding stop open to some extent to than one time expensive than the previous period increased marginally by eight percent from the same quarter last year we had promised to reduce our gas gn expenses by ten percent in physically a twenty one was physically or twenty and i'm happy to report that we have reported a deduction of twenty six percent in dna from previous period excluding the back to stock up to date growth and our actions to improve returns have resulted in a twenty three percent the not year on year in greece and ebitda strong operating as assets and a seventy five percent increase in cash flow to equity some operating as kids we started operates at a boarding fee fee we have seen a steady improvement in this metric due to focus on setting that assets got the confusion and operating as it's do you think that costs and collection of long outstanding do on the flipside despite significant progress made prior to the second wave of covert toward signing puppeteers agreement on a forgive gigawatts for which we have a letter of a lot but no pps we have not much to the bought yet we still remain optimistic that we will have positive used to deliver sharply as they did a definite movement towards the finish line in spite of the pandemic peak power demand companies under way which would encourage discount to invest in buying follow for the future needs it may be noted that data the backlog of fifteen to twenty gigawatt awarded capacity because of eating be afraid to be tied up with discourse the key have been supported by not coming out with any new solar i see if they'd kill this backlog is clear i've the second wave has eased we have seen renewed interest in buying power from the cost we have also seen global look gone prices escalate in the recent past allocated back at us supply and are committing timelines be continue to monitor the situation and are hopeful that the defendant in freedom fighters it's only temporary the government continues to support the renewable energy sector the honorable time minister recently reiterated government vendors commitment to climate actions and the g seven summit and he have been the driving force behind in their vision of thought hundred and fifty gigawatts renewable energy operational by twenty thirty apart from the bush on setting up the addition assets the government have been talking about promoting make in india it has been talk of measures to encourage solar cell and solar power little manufacturing domestically do important measures that announced in the last few weeks to enable local manufacturing industry first but then position of basic cost duty
spk_4: trump first april twenty twenty two with forty percent on models and twenty five percent on shelves
spk_2: the other was the notification of the l m m lift bit of the approved list of model than manufacturers any project and after april tenth twenty twenty one will necessarily have to buy solar panels that appear on a l m m list i've gotten pipeline will continue to enjoy the benefit of to since our projects for auctioned before the imposition of go to these notifications photo as a recent judgment by the honorable supreme court of india all transmission lines in certain regions of are just fine and good at art have been asked to be converted from overhead wires to underground we believe this would be caused you to to us as we should be allowed to pass through of the same if he got the cost given the turmoil of the last two years a fighter and you and physically or twenty one have been all about as we shouldn't see incidents
spk_5: we have invested in that operating projects in generation and living facility or five be number that site
spk_2: we're moving rapidly to deploy the latest by and module than trackers to np the efficiency of insulation capture on our projects which are going into construction if i look back at the difficulty of some of our achievements are that we were able to keep operating through the various lockdown down pandemic villages the work we were able to do to support our teams and our communities that we were able to large be to take the dawned the not under construction projects to go with induced it is the feeling of the rooftop assets and patience we have shown by thing away from the temptation of it in aggressively through the you have been huge success isn't very satisfying but almost two years behind me i look forward to the coming fiscal with great hope and optimism we believe in waiting for the right opportunity to earn our shareholder that it done higher than a cost of capital and the philosophy of building a sustainable business rather than simply cheese scale
spk_6: we continue to look for the yes and so much better than stakeholders and how we can further into a disclosure and make it easier for you to understand our business
spk_2: read that i would like to donate or what the morning
spk_6: thank you don't get
spk_7: on page five be provided update on a project under construction the of coconut it should be a single infecting or construction activity not only dissipated obliging but also impacting several other sites
spk_5: hi look at the month of solar modules the past several months or so in china or that i think one and i run the get a got have detected in what is obliged to renegotiate the contracted right and delivery commitment despite stein supply contracts immobile prices for new ordered out at levels that the seen several years ago
spk_1: we had anticipated earlier that back to your and in a larger thousand six hundred regular project
spk_2: we would operationalize for fifty megawatts to the final one fifty megawatts finished by be well as a the it finished three hundred megawatt in a by twenty twenty one and three hundred megawatt have been pushed by another quarter
spk_7: due to the second call with elated overtly political or just
spk_1: i'm stuck the ministry of new a little bit energy notification global grunting extension to all projects with commissioning you'll on of the particular to the little one we don't expect to include any penalties the delayed
spk_5: but a construction work and attempt to has picked up
spk_2: of the blogger and covertly to delete whoever the second wave of orbit kinda strongly and it it again taken a hit
spk_5: after the initial twenty five megawatts commissioned the commission to another going to hop like all the project or in me and expect another were going to have to be done sharply
spk_6: the entire project is expected to be equally commissioned by the end of the calendar year as you're already in the next to the monsoon season not be had thought of commissioning gate extension from the regulator and fucker
spk_2: for getting extension till the end of the financially this sicilian said just kennedy and said at mention the but we have make incremental improvement in operation that construction practice
spk_5: discrete a better off recently operationalize analytics platform has been instrumental in identifying faults quick up leading to load downtime a district level our ability to target determine and rectify electrical the losses during operation have also been and and dribbling under construction site bit installing track of it systems in one of the projects under construction to combat the impact of increased penetration
spk_7: we have provided some highlights of easy accomplishments on click
spk_2: i didn't get mentioned earlier we have got a strong double a rating from and the cia for easy and have been the iso forty five thousand and one certification which verify that as your public provide a safe and healthy workplace
spk_5: of goblin preconditions avoided about three million tons the kyoto equivalent of fiscal that needed daughter to nine point five million tons equal since inception
spk_1: we remain carbon neutral
spk_7: we have been focusing on a a neutrality haven't installed eighty four ground what did he just started across fifteen sites the system
spk_1: and other environmental focus that feel it safe disposal
spk_2: even recycling bit of a possible of damaged models and we have made very good progress this is clear that five hundred and fifty five tons of module disclosed we also the name actively engage with the communities in which we operate with the of medical and health facilities an activist wants on the pandemic drunk
spk_5: on the governance like we're already complying with the world bank ecuador principles and governance standards of invited see if you see and hear
spk_2: majority of projected on the board are independent and with english gender diversity
spk_7: get into this can we introduced qualities that human rights and equal employment opportunity along longer diversity and inclusion which i later efforts to upholding the highest standards
spk_5: we up and didn't speak striving to implement best practices to enhance our sustainability
spk_2: looking at industry and video a bit of be said that it the build up of at solar projects with levels of got back without power purchase agreement at the moment
spk_5: and the last couple of quarters
spk_7: the distribution companies have not been vanity if it and it has been accentuated by the second call the the and falling that it
spk_5: how how to been protected us from entering at the recently without look at it we expect to developers me find it difficult to big projects i recently got out looked at it given that i than and input got couple would cool that diligent delayed
spk_1: the good news is that although parliament in india expected a grown up as the country and legit from the second grade
spk_2: but the challenges and supplies and pricing we do expect that there should be an ingredient that
spk_7: compared to the want discovered in that he could bust or wherever we won't be surprised and we should see hotel
spk_2: we have seen that that having it of intense competition followed by moderation
spk_8: we have assume your opportunity such as wind and hydro and we assure that we shall only that for projects at commercially viable data
spk_5: we continue to believe that we would be able to obtain the poor people would be viewed at that a critical which would add contracted contract pipeline and like you're going about the cost of capital but that i would turn it over the own to discuss the corridors of thank you are you want
spk_9: when you graduate
spk_5: evaluating nine hundred and ninety megawatts on a b b or easy business
spk_1: because twenty percent higher than what you're going up with the oh yeah because
spk_10: call you a few thousand nine hundred and fifty five megawatts the get them from the previous quarter excluding the topple for you
spk_11: a lot of get you have entered into definitely agreement to fill out a problem for you and have their products to get these are heard from my portfolio
spk_2: i can fix got had can get too hot enough for twenty one and what about ninety percent lower than the biggest fear
spk_12: then you going to be night
spk_2: it is done
spk_5: looking i got it
spk_7: albany the you'd continue to increase we mode project
spk_5: some of the have been affected by difficulty will go with them supply really good challenges on badu trump as no good but model of guy just to put stock up on just an extension of an advertisement for people my three million or eighty percent higher again sixteen percent including the news from the same wandered into by the yet
spk_1: that into the and it on beat eleven it was stuck up this isn't based on don't feel good about eighty million did you develop a yet how can you about below in them electrocutions
spk_5: really need very focused on did you think i've got rid of little earlier this year and are pleased to report that are you the was what is much lower than the barrier looking out into a fight going to do we expect that guy's going to delay the old and broken promise are going to one level
spk_9: but i'm ugly deflecting inflation and then ingredient megawatts in albany some
spk_1: we'll but i'm getting belt on ecological pot about one eighty five million euro dollar london because you did also in been good
spk_5: as minute five hundred billion euro dollar game banerji been
spk_10: we expect substantial kidding feel good cause lung dvd kind of think that completed
spk_5: turn into saga companies and expensive
spk_7: i got a plate and i did of stock companies and hundred ninety one in including to get it you help with modeling they picked up as an expensive on our end it it directly linked to the said right
spk_1: casual contact with twenty one we are that he was telling the expense of it on seven point seven million
spk_5: i'm a little collecting going to finish advice from dollar twenty one pm until when i don't particularly like twenty twenty
spk_1: two dollar twenty seven point one night i don't particularly like twenty twenty one
spk_5: going to like what have been one bothered you didn't stop like ever and below a big you've got a lot about eight hundred thousand in fact both positive and negative we are particularly proud of what i believe you can blow our digital divide the challenges to it alex who got a twenty one vehicle and hundred and sixteen did we did better than hundred and when did it about a year ago
spk_2: we continue to make progress the galaxy not begun and believe that will be harder implementing the future but is go projects with i got it will be gone to by the bpl
spk_7: on be trump you can see that every problem operating a fifty increase that well did you personally earlier and i guess look equally go up with you get a little devoted disciples net debt for not meeting of kids what about one point one three billion and a bit of of the last twelve months what about hundred and thirty nine million resulting in bid to agree that it's your fault operating officer six month period it is better than lafayette is a month to catch
spk_13: finally looking at eight thirty i didn't volunteer information we had about one fifty two million of cars and get a good and and i needed to read about one point one nine billion i get reminded photo that i've got a good thing i did you're the heading of typical seventy five million included in other kids on balance it should be
spk_2: undeterred against that total did as this is directly linked with the pot an advantage you put in place
spk_1: related the bunch
spk_2: now i bought them gonna need to provide some commentary on our guidance and the ballot in february twenty one when we get reiterated or provides guidance for six clear to anyone had mentioned the carriers of time decommissioning normal read that and local government we are one point five percent lower on our to for revenue and zero point five percent log on are physically agree you revenue compared to a productive member primarily reflecting lauren solution to deliver conditions
spk_14: even though we have just started a the recovery bought from the second be as of now we agreed rape or number for the current fiscal but we keep the market posted in upcoming updates for for the first quarter fiscal twenty do we expect revenue to be between i an hour forty one hundred and forty three hundred million
spk_0: and the pls to be between twenty two percent to twenty four percent read this we will be happy to be questions thank you very much even now begin the question and answer session anyone who wishes to ask a question me but staff and one on the attached on telephone
spk_14: if you wish to remove yourself from the question do you vez doll and to
spk_0: participants request to use and sets well asking a question
spk_15: ladies and gentlemen we will wait for a moment while the question to assemble reminder to the participants anyone who wishes to ask a question may press style and one at this time but question as from the line of selection from rod capital partners please go ahead
spk_4: i want they give or take my questions saw the first ones on the the psyche for forgive your watch i know use in color
spk_2: in you're prepared remarks and in your release always wonder if you might have a better sense for one
spk_1: the first tranche by get placed
spk_3: the know what for timing of when the
spk_1: that the the room it could be sunday thanks
spk_15: and the other question though and like dimension data come to grips with over the last two three weeks in factor a couple of hearing that was scheduled in the regulatory gamecube actually happened over the last couple of the a couple of the grand national guard vip here that they're both hearing grant well though we're hoping that it'll be on the middle of do
spk_16: when we're hopeful that to that in the next four weeks we should
spk_15: get something time or or or trends it not the whole thing a lot alert the timing to begin within the next four weeks is what he had told by taking great reggie thaksin ebay but by chance they able to
spk_1: share with you preliminarily know how much lower the tariffs could come down by or or could be do you think it
spk_2: you think you'll be twenty five percent below where you fit thought the i beg you expect the tears to come that lower but on how much lower do think they they could be thanks
spk_1: like the have said the and the are better you know that that it has to make them for the way the are you know that would be the lotta time that is an option but is available to us and though we can hold onto the are good option or or more time that did no of eat any for to go out and sign because like the have mentioned and you're talking about that the data that have been discovered in the last three or months six months i've been super competitive and that they don't be don't believe that to be would have liked to participate in the market at those that and odd but because have actually been adapted into died because the market have moved
spk_5: in in the wrong direction that but it goes data for themselves
spk_15: so and we had the option at some point to what you know to look at the data that were discovered unsigned barbecue agreement go to those that it and we had to be playing at that point thing that thought that are not appropriate in our view and build a new rather wait for the the nato the correct at it so i at the moment a water as being about it being discussed his the media and you know love up and fifteen percent or
spk_16: added up some form of the it does but the find number will be known only than be get the regulatory approval than taking times the bible say that women to the distribution company but rest assured that at the have declined in the box to find when the data did not make friends and we will continue to do that but still
spk_15: that makes sense for us great thank you for that color and to arm and then on or the call earlier you mentioned the potential to get into wind in storage always wonder if you might go a share a little more on
spk_1: the timing of bomb went on they could be announced
spk_2: and in was the
spk_1: the structure of that
spk_2: the opportunity my look like thanks of to that the bidding important person and that the you know but i the group that it bend and been the hybrid currently what is happening is a bit odd he munich the standalone very small storage spend a lot more exploratorium major then commercial in nature
spk_3: two of the have looked at some of them be have not yet taken part in any a good option because every small and the clue to the lead like the but oliver as the wind and solar wind hybrid projects or clinton there have been published and have been have been around in there are more than twenty five years to they voted for within a tablet
spk_15: the market and the malian i have an extended period the building more than one gigawatt have been in our do you like to therefore we have a very comfortable with the have it the boondocks and the been called different been construction and been operation to be have taken part in an auction for being an option for solar when i did in the last six months and to it on a couple of options coming up over the next the and kind of the next four to six weeks we will be bought and rhodopsin and the if again because if you find the right that if we were lucky to be a you know of life to learn of in monaco got him from in both those options and they're built out you know the first wind up on wind solar projects for or as yours great or one last question of i may as relates to die a trackers imagine that you use your use tracker some recently to offset the pale price increases looking ahead you expect trackers to be
spk_17: at first i was struck to use and then also dukes right the
spk_1: share of trackers in your projects to increase mean planet so
spk_2: be something like fifty percent of your inflation's or getting it stays at on
spk_5: meaningful small percentage thanks but would you do undertaker
spk_2: if it
spk_15: right so you know every project has to be evaluated done at it's medic rates are currently given the given that penetrated that it made it in considering track of so we're doing that for to called logic says mention of depending on the data depending on the location depending on on a several other end
spk_0: but each project will be evaluated took to determine whether a jacoby bit to make sense or the traditional fixed it makes and and on that because we were to types of it would be hard for us to to sort of big a percentage for the future in terms of which draco i think we had this conversation the bosses well where we have we're looking at a range of company so we are looking at three different companies and each of them is
spk_18: is getting some portion of the contract are going ahead and bigger the t v the big names filled which which are there in a lot of them to the medical one of them most chinese one of them as indian okay great thanks to collect a pattern
spk_19: thank you
spk_7: reminder to the by distance anyone who wishes to ask a question may best stuff and one
spk_2: the next question and from the line of my a man by from creditors please go ahead hello everyone thanks something and questions original one clarification on the he's a guy twenty twenty two guidance or for
spk_1: it's and game been nine to eighteen point nine billion or so please of revenue just couldn't care a fight with that includes to stop or not because the thing the april
spk_18: impressively the reduce it by the around seven hundred million to create science doesn't close combat a to in the garden
spk_4: in the garden
spk_20: the number be here you know a be a have included
spk_21: the and little the said the you talk with the seventy nine hundred and eighty nine hundred that you have mentioned by
spk_7: yes i do go and visit seventeen two hundred and eighteen two hundred in the
spk_22: if you're presley's when you and of the scene of the roof of for me
spk_18: robin would be able to take the shots are some guy didn't plan the heat mailbag exclude totally then you get the body
spk_10: it wasn't good at it
spk_7: the footage yeah i flew flew from the seventy
spk_1: some hundred million fire
spk_18: increase revenues was the guidance from april listen to dishonor kind of fight and that's a result of just more five projects coming online earlier than expected or or something and so on the yeah if you want your live in made the luggage qualified the not excluded or big project because to been that is not only the out of getting cake you delayed and got the money and then i do love gun to thing actually like he's to read you're not enough would you can be kind of that thirty you that he but what exactly did so that he that even we have the video that regular glad i think i'll take it i could be anybody gets a thing all the publicly a hobby and possibly maybe the next quarter or obese rather than what of eternity money i didn't look at it
spk_15: got an original full of a neat and on the neutron with you on that
spk_7: image is a question from my side is just the the that have been you just looking at a cafe
spk_2: love for a new solar project in this quarter
spk_23: it seems pretty low compared to what we had lot
spk_7: in the last contract last year english and percent lower my my my
spk_6: the how do you expect to trend for the rest of the projects under construction
spk_7: just given modifies as have increased fled do you expect any to it any
spk_2: and the cancellation cancellation strong the models of players and thing like that impacting and to catholics in the news and
spk_7: oh you know very good question so
spk_5: we we have negotiated
spk_7: module supply agreements and sign supply contracts with said that of several manufacture doesn't apply some of them are being disgusting negotiated because that has been at idle input costs and we understand that and that is work in progress in some cases we have said of agreed to a marginal increase in some cases the ingredient is a little more than margin so do that still under discussion having said all of this
spk_18: if we would build a new project getting i'm not talking about the projects which had already under construction which we have woken up in the and italy but any new big that i go for it by for a new big big to the ballot places
spk_24: then the project but would go up by about ten percent however
spk_18: that's not something that would impact of directly for the project under construction because we had contracts signed at low ballot papers and that it's a little bit of discussion around those you know that a specific number
spk_24: right or not make sense thanks for the clarification and and maybe sleep one high level question here and maybe ninety this for you
spk_18: the we think that couple of five assets a change hands recent the in marquette i'm having even today international level of our i've been in operation
spk_15: the was taken private suggested that
spk_1: the keeping in mind like are you seeing any interest in to privatization know
spk_2: we any time and
spk_1: you just from other entities has given the revolution in the equity markets doesn't seem to reflect the hum
spk_2: opportunity ahead of you especially the the in my opinion doesn't even include be for york's of projects which years and
spk_1: than the previous could be negotiated in the next month or so
spk_2: the a little the very dividend growth in branford at the moment that have no thought that the of a bike the to jail on the
spk_7: i don't know about taking the company die within the have seen a separate them
spk_0: in their last few months it's like a the waters but at the go that that to leave the company and at the moment that has been a pull back in the either got clean energy market and sustainable sustainable livestock so i think the the now the to go
spk_7: but have potentially i believe a temporary phenomenon and shelbyville the the million other the shared by reflect the to value sooner than later i'm more confident of that today than i can i want to about a your back to the it could be at liquidity right i mean be a trading many joined the company will change and held in check
spk_2: the be living breathing in all over two hundred thousand chair of the day it's illegal to the one upmanship to begin with that kind of liquidity did that come a little bit about the movie but the trend i mean going to report the and the public market in the us of a brilliantly and
spk_1: in my opinion and know the be able to of evil configure the public
spk_5: don't know yeah thanks on time sitting in the prussians
spk_7: thank you
spk_5: participants to ask a question him a desktop and one
spk_2: the next question as from the line of when it from hsbc please go ahead
spk_5: yeah think it'll look for a living in three
spk_25: my focus needs to be a world of ethiopia that isn't you talk about it
spk_7: you are
spk_10: hundred bp be to god willing to the ninth and blessing that by twenty one of ordinary i could be the you think would be taught school or i think you do
spk_26: again or when you take these cause you're talking up a ghost specific projects like get it
spk_1: have a good friend up perhaps by me know
spk_2: peel percent not much but again you know be the early days because these projects are under construction and a this is a constant negotiation and discussion with our suppliers so you know i can't predict what might happen for weeks or eight weeks of know that would be appreciated but now given go beyond we because we've already find a lot of a contract that if somebody legalization happening
spk_27: on the on that basis we could probably as to make a few percent increase
spk_7: but again
spk_2: are going to want to have an eight month did undercutting them some
spk_5: okay if you travel to the gym the current morning
spk_1: then what good will be
spk_7: if you want to look at the gutter model trade with of and you go put out for a new project or good you know a lot of other input costs have also increased so if you look at all of that one good reckon about ten percent increase as i mentioned
spk_28: eighty nine could become forty three
spk_2: and yeah when i just had done but again you know that the important number here you know of cost per megawatt it's one metric perhaps the more relevant metric would be
spk_5: got a million units like because if you are introducing trackers are using other newer technology to improve yield then the amount of energy generated
spk_2: dollars of investment is probably more relevant as opposed to amount of megawatts installed
spk_26: so that may come into consideration one few deployed better and you'll technologies
spk_29: i'm just trying to can put together including the cost of pregnant
spk_2: and and brick what do you
spk_26: no so better for it you don't it's very difficult of that are so many moving parts and up logical so depending on the choice of crap go depending on the choice of more do your choice of technology of the module itself and all of them will impact the cost so the endeavor it's too
spk_1: get the lowest cost of energy as opposed to the lowest keep explore mega what what i've indicated in terms of ten percent is you know like for like all else being equal no change changing technology no change and anything he only on account of cost increase on like for like items however if you go quote better technology you make played more but you might get better you'd like so that a constant evolution we do
spk_10: african question is how much of the typical capital a new career now see who look like a bunch of slade a burger that ppm be paid people he had gone up from ninety five nine nineteen million i like will hundred and eight equals seven million i know
spk_30: so that they'll pay something that has been get the idea if you compare much to implicate to us
spk_10: yes
spk_1: you've got to for me in a fifteen billion rupees but the
spk_21: what been commissioned is probably are
spk_1: that hundred
spk_2: because because commissioning typically he didn't really have to get a lot of course because can we be considerate and and then becoming him the earth is also you didn't include people do get paid like the that that if they didn't put into focus cutting than out billion rupees ballpark number will continue to update
spk_1: a funny topic now
spk_31: in an opinion
spk_2: he he got capital a for
spk_1: can i make or break a bone
spk_2: well maybe began and we have to take the breakup exactly how much of the total gotta get laid how much you it contribute to think that number is not only with me but but definitely it definitely this is a totally didn't got what part of the for commissioned by they've been part of the kids are still under construction
spk_1: and as we they're not compatible to the commissioning
spk_2: okay for her i think it definitely hurt but my luck for that really good for you so you have only or got to make up for something comes up that is the only current mcgill is guilty two point nine three it is a number which you will become what they want to do not do think to take i'm didn't know what are you need to car
spk_7: who have a thirty year back when the
spk_2: gotta try to that exist on indication that you talk with the only thing the gone supplier we talk to the first applied doctor the can apply the doctor the modern for bio indications are that this is betty temporary and the you know indications are that this is eating out or starting to eat out already
spk_32: and that are you know them up more the are mean eventually build up and into their full of be don't believe that this is the continuing trend that the for example if straight site today is a late model he mentioned that on ten percent higher back toward a big fifteen or twenty percent higher that is not expectation
spk_2: you know the expect that normal so that the into going to resume and the next few weeks and we will see a teddy moderation in the face of modern as we go toward the end of the year or beginning of next year
spk_1: fool
spk_33: fine like i'm saying the input be to pick the time of year
spk_2: it only fiona lucky enough to get some or papa do that been applying a booth barbecue the agreements need to be delivered by contract he had some now
spk_1: makes me that we're going to be buying more doomed for those contracts only six o'clock okay
spk_2: so did plenty of time we do not expect that the modern fighters than i used in this period from the current too to higher number you do believe that even moderate we don't believe that in the quick buying into the next for the six quarter be navy believe that it is but that's not possible to see numbers that happen just go school it right when commonly the type of dropped some legal battle but i would not be surprised if we are able to teach i think we just greek or would never
spk_5: sooner than later them for the make people water we should be able to come back to legal golden leveled at least as a question vocal a group of the ball to some extent back to the motto market seems to be forgetting what the market you to be getting
spk_30: i just
spk_2: for electricity this this is like a lot of a local post absurdly you see any any gotten to that fails because that seems to become part of the comment to the radio
spk_7: you need to and watch video that he had suffered the uncle not any made it out of that we're looking at
spk_0: office
spk_34: and the the radiant phoenix super excited about that what can you did what a great deal got a great deal it's a bit of transaction the violence and then are both happy to be at all the i you know i gazed at that
spk_35: the unbearable a good operating be and we're very confident that great of able to make a success of it's a portfolio perhaps even better than bucky have done and a seem to be better you motivated and coveted to be don't believe that they would be any issues that are always the shoes in marriage getting some of the cp the now you know in some take a bit longer than lot of
spk_2: a bit faster but the and you know how unlike
spk_1: the into the hundred and fifty megawatts megawatt portfolio you could go the ground mortal coil your could be one particular particular behind and get a little thought of it then the public is agreement dayton report they are you know to it does take time to get all the of who was and on the kind of tokyo backpedaling a federal to take pills or ten bucks when we mentioned about the contract on that you have
spk_2: typically at effort to to contract on because obviously you know what bill will have to be some contract production part about a tight end up in a situation that thing was out there will be i've been in and you have been transferred into want their contract condition that what they that is obviously the moped the good both the buyer and seller are moderate did to make the transaction that that get for years to get paid for efficient
spk_36: of course i'm in been found that include when we get pissed
spk_35: i just think it's like going on
spk_1: thank you
spk_2: next question as from the line of lds cut off from rbc capital markets please go ahead hi everyone i just wanted some clarification on the fiscal year twenty twenty two guide as so in terms of the guide and what if imbedded in the guy then relative to your project under construction for wouldn't the timeline for completion for each project that's embedded in you are all fiscal year guidance i have got to yet the in a to look at the i've the that vision or the earning that and a decent beer
spk_35: he did he go to slide find it go that bingo and played by a bit of the projects under construction a big we have mentioned how the and nine hundred and fifty odd megawatts
spk_2: they're are likely to be a commission nikkei the second part of the other contexts like you that i can't eat for dinner at the thumbnail photo and dutch and project saw this the you know that nine hundred and you know
spk_37: fifty odd angle watch and that the nato get get added to our capacity in and it's time to it plain vanilla we do only did the be don't do any other
spk_35: we don't do anything else then you should be seen or at are guided numbered by the end of the fiscal bit of locked her in the a and i gave a nod in are believed to be the worst case scenario for
spk_1: okay
spk_2: i'm asking is i believe you pushed out three hundred megawatt on rises done fixed by one quarter some just trying to understand how you can still maintain the scene fiscal year guy and when you've actually pushed out the timeline and three hundred megawatts to do it in the early days that it'll supposed to be done by me of twenty twenty one that anybody should have completed the the they kinda three hundred megawatts
spk_1: by now to have made of that is not gonna happen obviously does not appear in june already to be expected of you get done in the next quarter but the next book written by the typically i thought what they will bush has happened on be bothered with have been a flight pushed on each of the bought this letter that compare to laughlin on account of the fact that you'd back quickly been very little work or the month of april and may and bought been due to their he the fact that we could not be much lower can be going to have one thousand dollars of going to that they can pandemic lee will because of that and dipping have been pushed back a little bit but we didn't expect that all the his to get done in the fiscal year and that's the reason why the now you know by the target with the same dirty little bit and been a change between i've guidance i'm a february two now it would be disconnected the guidance for the sale of the rooftop project earlier get a good group of this now we have picked a goalie top of that out either way at by the to get on mobile phone with them so they did notice that audible school is consent
spk_5: okay and then to just to get historically bad thing on that the just to clarify for this fiscal year guide and is that the amount that you us back in this year old hit a run rate amount exiting critical go year twenty two because
spk_2: the installed capacity as on totally first of march twenty twenty two okay attack
spk_36: okay
spk_35: that's a couple and and then to control curve and and under hybrid projects and the wind project
spk_0: how are you thinking about return under was carjacked relative to return on solar only project
spk_1: to do a dumb are marked a good fairly mature on board the solar wind the been hybrid solar form of in site to are the expect women over done on know we do all over again but when inhabit the technology fairly well known them on the player that were known that it's already the known for their for we don't expect there to the differential and that are done more how it helps us really isn't to leave it helps us because it increases are objectionable market in fact that only ability he bought only sold at auction and all will take part in build and been hybrid been from of i did options also be in include
spk_0: either that a political wind projects
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