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 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Adani Group has clarified that their power purchase agreement for wind power projects in Sri Lanka has not been revoked, despite reports to the contrary.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 Lanka has revoked a power purchase agreement with Indian conglomerate Adani Group following allegations of corruption, energy ministry sources in Colombo said yesterday.

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.

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’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.

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.

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.