Brief by Shorts91NewsDesk / 09:19am on 13 Feb 2025,Thursday India Global
Adani Group has officially withdrawn from a $442 million wind power project in Sri Lanka after the Sri Lankan government sought to renegotiate terms, including energy rates. The government's cancellation of a power purchase agreement with Adani prompted the move. Despite investing $5 million in the project, Adani expressed respect for Sri Lanka’s decision and remains open to future collaboration. This decision follows efforts by the Sri Lankan government to reduce electricity costs from billion-dollar energy projects, and a renegotiation committee is expected to address the terms moving forward.
