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Adani Off $442 Mn Wind Power Project In Lanka
Hindustan Times Ranchi
|February 14, 2025
Indian conglomerate Adani Group has withdrawn from a troubled $442 million wind power project in Sri Lanka after the island nation's government sought to renegotiate the deal.
COLOMBO:
Sri Lanka's Board of Investment (BOI) said it received a two-page letter dated Wednesday from Adani Green Energy Limited saying it had decided to "respectfully withdraw" from the project. A BOI official told AFP the government was yet to respond to the letter while a spokesman for Adani said the firm would make a public statement later Thursday.
The withdrawal move followed a decision by President Anura Kumara Dissanayake's administration to revoke a power purchase agreement with Adani Group to negotiate lower energy costs.
Dissanayake's party had strongly criticised the deal as "corrupt" and wanted it renegotiated.
This story is from the February 14, 2025 edition of Hindustan Times Ranchi.
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