Adani Green Withdraws from Sri Lanka Wind Farms
Adani Green withdraws from $1B Sri Lankan wind farm projects due to tariff and environmental issues.
BUSINESS: Adani Green Energy has decided to pull out of its $1 billion wind farms project in Sri Lanka, citing controversy over tariffs and environmental concerns. This move comes after the company faced a prior setback with a canceled deal in Kenya.
According to sources, the company cited tariff concerns raised by the new Sri Lankan government as the reason for withdrawing from the projects. The Sri Lankan government had reportedly expressed reservations about the high tariffs proposed by Adani Green Energy.
The withdrawal from the Sri Lankan project is a significant setback for Adani Green Energy, which has been aggressively expanding its renewable energy portfolio in recent years. The company has set ambitious targets to become one of the largest renewable energy players in the world.
What's Your Reaction?
