The proposals to build the 122.5MW Mynydd Lluest y Graig windfarm at Llanerfyl, near Llanfair Caereinion, have been pulled following "changes to planning policy".
But Vattenfall Wind Power Ltd, which started its scoping report and consultation into the scheme in March 2014, said it "remains committed" to the scheme and development of the windfarm.
The windfarm would have relied on a grid connection being provided by Scottish Power Energy Network to National Grid's Mid Wales Connection Project.
But the project was designed to connect a number of windfarms in Powys to the grid, and when four out of five were refused by the Department of Energy and Climate Change last year, the scheme was suspended.
Now, the developer says it will wait to see the result of any appeals before returning to any plans. If the connections aren't needed, it won't go ahead with the plans – meaning the Mynydd Lluest y Graig would have no way to connect to the National Grid.
The Llanerfyl windfarm was in the pre-application stage of the Nationally Significant Infrastructure Projects process.
The Swedish developer had hoped to submit a Development Consent Order application by the summer next year which would have seen a Government planning inspector decide whether or not it could go ahead.
Vattenfall Wind Power's plans would have seen turbines of up to 135 metres built on the land, and a 3D model had been put on display to the public to allow people to see what it might look like.
However, the windfarm scheme had come under fire from some residents who felt it could have a significant visual impact on the area.
Energy minister Andrea Leasdom refused planning permission for an overhead power line and windfarms in Llanbadarn Fynydd, Llaithddu, Llanbrynmair and Carnedd Wen in September last year.