The company had been working on proposals for the site since 2008, which included a range of detailed technical and environmental studies.
Scottish Power Renewables said it had decided to focus on its windfarm at Llandinam in Mid Wales, where it is currently seeking to replace the turbines and is awaiting a planning decision following a lengthy public enquiry.
Scottish Power Renewables UK managing director, Simon Christian said: “We have been an active wind power developer in Wales since 1992, and we hope that our association with renewable energy in the country will continue for many years to come.
“We would like to thank all of the residents, groups and interested parties who have been involved in the consultations during development of Dyfnant.”