Adani Green Energy exits Sri Lanka wind project over tariff negotiations: Report

Adani Green Energy Ltd will not be building two wind power projects in Sri Lanka after the government sought lower tariffs, Bloomberg reported, citing a letter from the Adani Group. The proposed wind projects in Mannar and Pooneryn, including transmission lines, would have resulted in a $1 billion investment for Sri Lanka if it had happened.

Sri Lanka, led by President Anura Kumara Dissanayake was trying to reduce the power prices to less than 6 US cents, according to the report which added that this came after the previous administration had agreed to buy electricity at 8.26 US cents. This comes at a time when the Adani Group also faced setbacks in Bangladesh over unpaid dues and infrastructure projects being scrapped in Kenya after the bribery probe against the Group by the US Securities and Exchange Commission (SEC).