Adani Green Exits Wind Projects in Sri Lanka Due to Tariffs
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Adani Green Energy Ltd. won’t build two wind power projects in Sri Lanka after the new government sought lower tariffs, the latest setback to the Gautam Adani-led conglomerate’s overseas ambitions.
The projects and associated transmission lines would have seen an investment of about $1 billion in Sri Lanka, according to a letter from Adani Group dated Feb. 12 and seen by Bloomberg News that conveyed the decision to withdraw. A company spokesperson confirmed the content of the letter.