Adani Green Energy Ltd. withdrew from building the two wind power projects in Sri Lanka after internal deliberations; however, it reaffirmed the availability for any development opportunity in the South Asian country.
The Adani Group company had discussions with Ceylon Electricity Board officials and with the Ministry officials at Colombo, a statement by the company said.
However, with another cabinet appointed negotiations committee and project committee being constituted to renegotiate the project proposal, the Gautam Adani's green arm decided to withdraw, the statement said.
Adani Green teams had several rounds of discussions with state-appointed committees, the statement said. After over 14 rounds of discussions, approval was accorded on the tariff, fixed for 20 years, for the power purchase agreement, it said. Adani Green had also worked on all clearances and licenses.
The green energy firm has worked on lands for the project and associated transmission system. Adani Green has spent about $5 million on pre-development activities so far.
Adani Green had earlier committed to setting up two wind farms in Sri Lanka's Mannar town and Pooneryn village with a total installed capacity of 484 megawatts at an investment of around Rs 6,177 crore.
In May 2024, Adani Green Energy and the Sri Lankan government entered a 20-year power-purchase deal to develop two wind power stations in the country's northern provinces of Mannar and Punarin, according to a report by the official news portal.
Adani Green currently operates a renewable energy portfolio of 11.18 GW, of which 1.65 GW is from wind farms spread across Gujarat and Madhya Pradesh. The renewable energy producer aims to realise renewable energy capacity of 50 GW by 2030.
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