Adani Green Withdraws From Sri Lanka Wind Power Projects Amid Renegotiation

Adani Green Energy Limited (AGEL) has officially withdrawn from its proposed $1 billion renewable wind farm and transmission project in Sri Lanka. The decision comes after the Sri Lankan government formed a new committee to renegotiate the project proposals, including lowering the power purchase cost. AGEL's board deliberated on the new committee formation and decided to exit the projects. This development follows months of uncertainty and controversy surrounding the 484 MW wind power projects in Mannar and Pooneryn, which were initially approved in 2023. The withdrawal marks a significant shift in Adani's investments in Sri Lanka's green energy sector.

Source: Business Upturn