Total Renewables SAS agreed to acquire a 20% stake in Adani Green Energy Limited (NSEI:ADANIGREEN) from the Promoters on January 11, 2021. The transaction has been financed from perpetual subordinated bonds worth €3 billion. Total Renewables will pay $2.5 billion (approximately €2.06 billion) to acquire a 50% stake in a 2.35 GWac portfolio of operating solar assets owned by Adani Green Energy Limited and a 20% stake in Adani Green Energy Limited. Additionally, Total will occupy a seat on Adani's Board. The transaction has been approved by the Competition Commission of India. Clifford Chance LLP and Cyril Amarchand Mangaldas represented Adani Promoter Group and Latham & Watkins LLP, AZB & Partners acted as legal advisors to TOTAL SE, parent of Total Renewables.