Published 10 days ago • loading... • Updated 8 days ago

Adani Group pulls out of $440mn wind power projects in Sri Lanka

Adani Green Energy has withdrawn from two wind power projects in Sri Lanka, totaling approximately $440 million, as stated in their statement to the Board of Investment.
The company has spent around $5 million on preliminary work for the projects but decided to withdraw, respecting Sri Lanka's sovereignty and choices.
The proposed investments in the Pooneryn and Mannar plants totaled approximately $1 billion before their cancellation.
Sri Lankan President Anura Kumara Dissanayake stated that his administration is focused on local investments and is keen for more projects from Indian firms.

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Oil Price

India’s Adani Pulls Out of $1-Billion Sri Lanka Wind Power Deal

Adani Green Energy, the renewables arm of India’s Adani Group, is withdrawing from a planned wind power project in Sri Lanka that would have seen $1 billion in investments, due to disagreements over the power purchase price. Adani Green Energy has secured most of the permits for the wind power farms at Mannar and Pooneryn, including transmission lines. But a new government of Sri Lanka has signaled it wants to renegotiate the tariffs previously …

9 days ago·London, United Kingdom

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Scroll India

Rush Hour: Adani exits Sri Lanka power projects, Jamia students detained during protest and more

Become a ‘Scroll’ Member to get Rush Hour – a wrap of the day’s important stories delivered straight to your inbox every evening.

9 days ago·India

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Al Jazeera

India’s Adani withdraws from troubled $442m Sri Lanka wind power projects

Conglomerate founded by billionaire Gautam Adani says it withdrew from the projects as they were ‘financially unviable’.

9 days ago·Qatar

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The Print

Adani pulls out of Sri Lanka wind power projects following Colombo’s review of power purchase agreements

Sri Lanka President Anura Kumara Dissanayake had said he would cancel the deal if elected, but instead he revoked the PPA with Adani & renegotiated for lower energy prices.

9 days ago·New Delhi, India

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