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deal with the Sri Lankan government is intact, the company said on Friday, after the AFP news agency reported it had been revoked, citing a government official and a document.

Adani Group yesterday denied cancellation of its 484 MW wind power project in Mannar and Pooneryn. In a statement Adani said reports of cancellation are “false and misleading.” “We categorically state that the project has not been cancelled.

Adani Green Energy shares fell nearly 6% after reaching a day’s high, following a report that Sri Lanka cancelled a $440 million power purchase agreement with the company.

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.

Sri Lanka has revoked a 2024 power purchase agreement with Adani Green Energy for a proposed wind power plant in the Northern Province, amid corruption allegations, AFP reported on Friday (24 January).

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 agreement with Indian conglomerate Adani Group following allegations of corruption, energy ministry sources in Colombo said yesterday.

The Adani Group, led by Gautam Adani, has refuted claims that Sri Lanka officially revoked its power purchase agreement (PPA) with the Indian conglomerate due to corruption allegations. The group has