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.

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.

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Adani Green Energy has withdrawn from two wind power projects worth $1 billion in Sri Lanka after the government sought to reduce the tariff. The projects, set to be completed by 2026, were scrutinized following a political change.

"Adani Green Energy has conveyed its Board's decision to respectfully withdraw from further engagement in the renewable energy (RE) wind energy project and two transmission projects in Sri Lanka," the