Adani Green Energy has withdrawn from a $1 billion wind power project in Sri Lanka due to disagreements with the government over the purchase price of electricity.

Adani Green Energy is set to withdraw from two proposed wind power projects in Sri Lanka, following discussions with the government.

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 has withdrawn from building two wind power projects in Sri Lanka after the new government sought lower tariffs last month, in the latest setback to the Gautam Adani-led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.

Adani Green Energy has withdrawn from two wind power projects worth $1 billion in Sri Lanka after the government sought to reduce the tariff.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.

The proposed wind projects in Mannar and Pooneryn, including transmission lines would have resulted in a $1 billion investment for Sri Lanka if it had happened.