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deal with the Sri Lankan government is intact, the company said on Friday, after the AFP news agency reported it had been revoked, citing a government official and a document.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

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 Cabinet, under President Anura Kumara Dissanayake, has canceled the award of 484 MW wind power plants in Mannar and Pooneryn to Adani Green Energy SL Ltd, a project initially granted in June 2024 by former Prime Minister Ranil Wickremesinghe.

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.

The Adani Group has denied reports of the cancellation of its Sri Lanka power power deal, calling the reports as 'false and misleading'. The spokesperson of the ports-to-power conglomerate issued a statement on Friday,