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deal with the Sri Lankan government is intact, the company said on Friday, after the AFP news agency reported it had been revoked, citing a government official and a document.

Earlier, the Sri Lankan media reported that the President Dissanayake-led cabinet had revoked a decision made in May 2024

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 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.

Sri Lanka’s new government plans to renegotiate its power purchase agreement with Adani Group for wind energy projects.

In May 2024, the then-President Ranil Wickremesinghe-led government entered into the agreement with the port-to-power group to procure electricity

Sri Lanka has canceled a power purchase agreement with Adani Group, amid corruption allegations against the company's founder, Gautam Adani . The decision was taken by President Anura Kumara Dissanayake's administration, which is now reviewing the proposed wind power project.

Group dismisses as ‘misleading’ reports in international media that Sri Lanka had cancelled Mannar & Pooneryn projects, hints review process not linked to November indictments by US.

India’s Adani Group has denied the cancellation of its $440 million power purchase deal with Sri Lanka, terming the reports as “false and misleading”