India's Adani Group has confirmed that its power purchase agreement (PPA) with the Sri Lankan government is still in place

The Sri Lankan government has started talks with India's Adani Group to lower the cost of power from two wind power projects the group will build in the island nation's northern province, the cabinet spokesman said on Tuesday.

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.

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deal with the Sri Lankan government is intact, the company said on Friday, after the AFP news agency reported it had been revoked, citing a government official and a document.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

Sri Lanka's government has reportedly revoked a power purchase agreement with Adani Group amid corruption allegations against its founder Gautam Adani. President Dissanayake's administration is reviewing the proposed wind power project,