COLOMBO: India’s Adani Group’s power purchase deal with the Sri Lankan government is intact, the company says, after the AFP news agency reported it had been revoked, citing a government official and a document.

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.

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

The island nation has been trying to fast-track renewable energy projects to hedge against surges in imported fuel costs.

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deal with the Sri Lankan government is intact, the company said on Friday, after the AFP news agency reported it had been revoked, citing a government official and a document.

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

Reports that Adani Group's 484 megawatts (MW) wind power projects in Sri Lanka's northern Mannar and Pooneryn districts have been cancelled are false and misleading, an Adani Group spokesperson said Friday.