India's Adani Group's power purchase deal with the Sri Lankan government is intact, the company said on Friday, after the AFP news agency reported it had been revoked, citing a government official and a document.

Sri Lanka cancelled the agreement after allegations of corruption in a US probe last year, AFP reported citing unnamed government officials.

Sri Lanka has revoked a power purchase deal with India's Adani Group after a probe into U.S. allegations that the conglomerate's executives paid bribes to secure Indian power supply contracts, according to an AFP report published by the Economic Times newspaper on Friday.

The Adani Group clarified that the Sri Lankan Cabinet’s decision to reevaluate the tariff approved in May 2024 is part of a standard review process, particularly with a new government

Adani Green Energy's stock experienced a decline following the news of Sri Lanka's termination of the power purchase agreement, reaching a daily low of Rs 1,008.

Sri Lanka’s Cabinet of Ministers chaired by President Anura Kumara Dissanayake has revoked a decision announced in June last year to award a controversial 484 MW of wind power plants in Mannar and Pooneryn to Adani Green Energy SL Ltd.

Adani Group has clarified that their power purchase agreement for wind power projects in Sri Lanka has not been revoked, despite reports to the contrary. A standard review of the tariff is underway by the Sri Lankan government,

Sri Lankas government revokes Adani wind power pricing agreement, appointing a committee to review the projects and pricing structure.

Sri Lanka has revoked a power purchase agreement with Adani Group’s renewable energy unit after allegations of corruption levelled against the Indian conglomerate in the US last year that brought some of its foreign projects under fresh scrutiny.