Adani quits $442m Sri Lanka power project 

COLOMBO, Feb 13: Indian conglomerate Adani Group has withdrawn from a troubled $442 million wind power project in Sri Lanka after the island nation's government sought to renegotiate the deal.

Sri Lanka's Board of Investment (BOI) said on Thursday it had received a letter from Adani Green Energy Limited saying it had decided to "respectfully withdraw" from the project.

A BOI official told AFP the government was yet to respond to the sudden pull-out by the Indian company, which had pledged last month to invest up to $1 billion on renewable projects in Sri Lanka.
Adani said in a statement on Thursday that they were pulling out of the wind power project as well as two other projects to set up power transmission lines.

"We remain committed to Sri Lanka and are open to future collaboration if the government of Sri Lanka so desires," it said in a brief statement. —AFP