Adani Green Energy has disclosed a significant stake sale by TotalEnergies Renewables Indian Ocean Ltd, marking the materialization of the French energy giant's earlier expressed openness to divesting its position in the Indian renewable energy company. The transaction, completed on December 10, 2025, represents a substantial reduction in TotalEnergies' shareholding.

Transaction Details

The regulatory filing reveals the specifics of TotalEnergies' divestment in Adani Green Energy:

Shareholding Changes

The sale has resulted in a notable shift in TotalEnergies' ownership structure within Adani Green Energy:

Regulatory Compliance

TotalEnergies Renewables Indian Ocean Ltd, along with its Person Acting in Concert (PAC) TotalEnergies Solar Wind Indian Ocean Ltd, has filed the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was signed by Director MIREMONT Carine from Mauritius.

Company Profile

Adani Green Energy Limited operates in the Power Generation & Distribution sector with a total equity share capital of ₹16,47,17,61,550, comprising 1,64,71,76,155 equity shares of ₹10.00 face value each. The company maintains its listing on both National Stock Exchange of India Limited and BSE Limited.

Historical Context

The disclosure notes that TotalEnergies' previous regulatory filing was made on January 22, 2021, when the combined holding of the seller and PAC was 20.00%. The shareholding had been diluted to 18.99% due to further allotments of securities by Adani Green Energy before this recent sale transaction.

This transaction fulfills TotalEnergies CEO's earlier statements about the company's openness to divesting its stake in Adani Green Energy, which had been characterized as a profitable investment.

Gautam Adani, Chairman of Adani Green Energy Limited , has issued a letter to shareholders, addressing the company's journey since the Hindenburg report and recent SEBI clearance. The letter reflects on the challenges faced and the company's subsequent growth.

Regulatory Clearance and Resilience

Adani emphasized the significance of SEBI's recent dismissal of allegations against the Adani Group, stating, "With SEBI's clear and final word, truth has prevailed or like we had always said सत्यमेव जयते (truth alone will prevail)." He described the period following the Hindenburg report as a test of the company's resilience and governance.

Strong Financial Performance

Despite the challenges, Adani Green Energy reported robust financial growth:

The company achieved a two-year CAGR of 25% in portfolio EBITDA and added nearly ₹2 lakh crores to its Gross Block.

Key Project Achievements

Adani highlighted several transformative projects completed during this period:

• Commissioning of India's first container transshipment port at Vizhinjam
• Addition of 6 GW of renewable capacity, including the Khavda project, touted as the world's largest single-location renewable project
• Commissioning of the world's largest copper smelter and metallurgical complex
• Expansion of energy infrastructure with 7,000 circuit kms of transmission lines and 4 GW of thermal capacity

Future Commitments

Looking ahead, Adani outlined three key commitments:

1. Strengthening governance standards to inspire confidence across markets and regulators
2. Accelerating innovation and sustainability, aiming to set global benchmarks
3. Doubling down on nation-building through infrastructure investments to power India's long-term growth

Closing Remarks

Adani concluded his letter with a quote from Shri Sohan Lal Dwivedi, emphasizing resilience and determination: "The boat that fears the waves can never reach the shore, But those who keep on trying will win forevermore...."

The Chairman expressed gratitude to shareholders, lenders, suppliers, and partners for their support during challenging times, reaffirming the company's commitment to building a brighter future for India and the world.