Canada Pension Plan Investment Board agreed to acquire a 6.33% stake in ReNew Power Ventures Pvt. Ltd. from Asian Development Bank for approximately $140 million on November 29, 2017. In a related transaction, Canada Pension Plan Investment Board has agreed to acquire convertible preference shares of ReNew Power Ventures Pvt. Ltd. that will convert into equity shares. The transaction has been approved by the Competition Commission of India. Sai Krishna Bharathan and Ananya Sharma of AZB & Partners acted as legal advisors for Asian Development Bank. Canada Pension Plan Investment Board completed the acquisition of 6.33% stake in ReNew Power Ventures Pvt. Ltd. from Asian Development Bank on January 19, 2018.