India’s Adani Group has decided to pull out of its $440mn wind power projects in Sri Lanka after the new government in Colombo launched a review of the tariffs agreed for the deal.

India's Adani Green Energy has told Sri Lanka it will withdraw from two proposed wind power projects, the company said on Thursday, two weeks after Colombo said it was seeking to lower the cost of the power generated.

Ever since news of the project broke in 2022, many in Sri Lanka criticised it and claimed it had not been awarded through a transparent process.

Adani Green Energy Ltd. has withdrawn from building two wind power projects in Sri Lanka after the new government sought lower tariffs last month, in the latest setback to the Gautam Adani-led conglomerate’s overseas ambitions.

The Adani Group on Thursday said that it has pulled out of further engagement in a $442 million wind power venture in Sri Lanka after the country's authorities attempted to modify the agreement.In a media statement,