Adani Green Energy Ltd. (AGEL) has decided to withdraw from two planned wind power projects in Sri Lanka, citing recent developments in project negotiations. The company communicated its decision to the Sri Lankan Board of Investment (BOI) through an official letter dated 12 February, The Economic Times reported.

Ever since news of the project broke in 2022, many in Sri Lanka criticised it and claimed it had not been awarded through a transparent process.

However, his Adani Group continues to be invested in a USD 700 million terminal project at the country's largest port.

Adani Green Energy Ltd. has withdrawn from building two wind power projects in Sri Lanka after the new government sought lower tariffs last month, in the latest setback to the Gautam Adani-led conglomerate’s overseas ambitions.

Adani Group is officially withdrawing from a $442 million wind power project in Sri Lanka after the government attempted to renegotiate the agreement

Adani Green Energy Ltd told Sri Lanka’s Board of Investment on Wednesday that it would “respectfully withdraw” from the wind project following discussions with officials who indicated that fresh committees would be formed to “renegotiate the project proposal”.