Adani Terminates Projects in Sri Lanka

Gautam Adani-led Adani Green Energy on Wednesday told the Sri Lankan government it was withdrawing its nearly $1-billion renewable energy wind farms project in Sri Lanka. The project has been mired in controversy over inflated tariffs and adverse impact on the environment in the two regions where it was being built.

This is the second setback for the company's international projects in the last four months. In November, the Kenyan government ordered the cancellation of a 30-year, $736-million deal with Adani Energy Solutions to construct power transmission lines in a public-private partnership with Kenya Electrical Transmission Co after billionaire founder Gautam Adani was charged with bribery in the United States late last year.

Later, Sri Lankan President Anura Kumara Dissanayake's administration opened probes into the company's local projects.

Meanwhile the Bangladesh government has appointed a committee to examine power generation contracts, including one with Adani Power, for a thorough investigation into deals under former prime minister Sheikh Hasina.

Adani Green Energy (AGEL) won an approval in February 2023 to develop 484 MW wind power plants in Mannar town and Pooneryn village of Sri Lanka.