Adani Group to withdraw $1 billion wind power project in Sri Lanka

 The company cited delays including unresolved environmental clearance and a Supreme Court case.

It was learnt that another Cabinet appointed negotiations committee (CANC) and Project Committee (PC) would be constituted to renegotiate the project proposal. “This aspect was deliberated at the Board of our company, and it was decided that while the company fully respects the sovereign rights of Sri Lanka and it’s choices, it would respectfully withdraw from the said project”, Adani Green Energy said in a press release.

The company on Thursday (February 13) said it is withdrawing from the proposed $1 billion renewable wind farm and transmission project in Sri Lanka, citing prolonged discussions and new government renegotiation efforts. The withdrawal from the proposed projects comes after procuring almost all clearances and working on lands for the project, as well as associated transmission system. Adani Green Energy has already spent about $ 5 million on the predevelopment activities.