India's Adani Green Energy said it will withdraw from two proposed wind power projects in Sri Lanka, according to a letter sent by the company to a Sri Lankan government agency.

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 has withdrawn from building two wind power projects in Sri Lanka after the new government sought lower tariffs last month, in the latest setback to the Gautam Adani-led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 wind power project, which was to be established on Sri Lanka's north-western coastline, involved the development of a 484-megawatt renewable energy facility.

Adani Group is officially withdrawing from a $442 million wind power project in Sri Lanka after the government attempted to renegotiate the agreement for better energy rates.

Adani Green Energy shares rose 3% to Rs 946 in Thursdays intraday trade after the company announced its decision to withdraw from two proposed wind power projects in Sri Lanka. The move follows the Sri Lankan government's request for lower tariffs,

Adani Green withdraws from controversial renewable energy project in Sri Lanka amid legal battle and environmental concerns.